Finance Minister Ghana
The Finance Minister Ken Ofori Atta gave the hint during a review program with the IMF Mission in Ghana, Thursday.
It does not look like Ghana will extend its program with the International Monetary Fund after the three year Extended Credit Facility with the fund ends in 2017.
He added we are committed to ending it when it should have ended… That’s a Cabinet decision” but admitted it will take a lot of hard work to achieve that.
The IMF Mission is in Ghana to review the health of the economy and to discuss a possible extension of a program entered into in 2014 with the erstwhile John Mahama government.
The deal worth $918 million was to give credibility to Ghana’s economic policies and to attract better investment.
The then government was to work assiduously on the macro-economic stability by reducing inflation, fiscal deficit and bring Ghana’s debt level to sustainable levels as part of the deal.
The three year arrangement was to end in 2017 if the Ghana government is able to meet all its economic targets set by the IMF.
However it emerged that the previous government failed to meet the target timely the Nana Akufo-Addo led government to consider a possible extension of the program.
But the Finance Minister said the deal may just be completed in this year as initially agreed with the NDC government.
He said, it means a lot more hard work than we have to, but that’s where we are in terms of Cabinet decision.
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