Cassiel Ato Forson, ranking member of Parliament’s finance committee has said the decision by the government to seek support from the International Monetary Fund (IMF) is belated.
Reacting to the government’s decision to go to the IMF on Wednesday, Ato Forson said, “I saw it coming long ago. I know the government intended to evade what is obvious but the reality is clear that they had no other choice than to do an IMF programme.”
“Overall, I think it’s refreshing but the simplest thing is to authorise an IMF programme; the most difficult one is getting a programme. So, I only use them well that they’ve initiated the process but it doesn’t end there,” he said.
Ato Forson added, “We are going to have some months of negotiation and I pray that the negotiation will be done in the interest of the country and it’s going to support the growth of the country going forward…”
“Unfortunately, as a result of the fact that the government decided to delay in taking such an important decision. It has cost the nation and it will cost us even more going forward,” he added.
President Akufo-Addo on Wednesday authorised the Minister for Finance, Ken Ofori-Atta to commence formal engagements with the International Monetary Fund (IMF).
A statement signed by the Information Minister, Kojo Oppong Nkrumah said “This follows a telephone conservation between the president and the IMF managing director, Kristalina Georgieva, conveying Ghana’s decision to engage with the Fund.”
“The engagement with the IMF will seek to provide a balance of payment support as part of a broader effort to quicken Ghana’s build back in the face of challenges induced by the COVID-19 pandemic and, recently, the Russia-Ukraine crises,” the statement added.
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