The Ministry of Finance has clarified remarks by President Nana Addo Dankwa Akufo-Addo that the deal with the International Monetary Fund will not be extended.
Responding to a question on the apparent impact of the program on the government’s proposed projects, the President stressed that the NPP government will not go beyond the April 2018 deadline.
“Typically in April next year, it will be completed under this government,” he stated when he addressed the media on Tuesday.
Various media houses had reported that the president’s comments sought to indicate that the deal with the IMF – signed by the previous NDC administration – will be terminated after 2017.
But a statement signed by the Finance Minister Ken Ofori Atta stated that “the government will like to clarify that, Ghana will complete the IMF programme through our budget cycle of January 2018 through December 2018 as stated by the President.”
The statement added “the 2018 budget will therefore be the last budget under the current IMF program. After the completion of the program at the end of the budget cycle in December 2018, government will not extend it.
“The President’s remarks should, therefore, not be interpreted to mean that the government is pulling out of the IMF programme.”
Below is the full statement
PRESS RELEASE RE: STATEMENT ON GHANA’s IMF PROGRAMME
Accra — The government will like to reiterate and clarify the president’s statements at the first “Meet the Press” held on 18th July, 2018 where he mentioned that Ghana wouldn’t enter a new deal with IMF beyond the current programme.
In response to a question, the President stated that “There’s no question of the IMF programme being extended. It is coming to an end next year with the budget that we are going to prepare”.
This statement has unfortunately been misrepresented by some sections of the media.
The government will like to clarify that, Ghana will complete the IMF programme through our budget cycle of January 2018 through December 2018 as stated by the President.
The 2018 budget will therefore be the last budget under the current IMF program. After the completion of the program at the end of the budget cycle in December 2018, government will not extend it.
The President’s remarks should, therefore, not be interpreted to mean that the government is pulling out of the IMF programme.
On The contrary, government will continue with and complete the IMF program through the budget cycle of January 2018 through December 2018.
