Government expects good verdict from IMF

The Akufo-Addo-led government expects a clean verdict to be given by the International Monetary Fund (IMF) after officials of the Bretton Woods institution held its last meeting with Ghanaian officials on Ghana’s exit of the programme on Wednesday, 20 February 2019, Dr Mark Assibey Yeboah, Chairman of the Finance Committee in Parliament, has said.

The New Juaben South lawmaker recounted to Accra100.5FM’s Parliamentary correspondent, Richard Appiah Sarpong, in an interview after the meeting that the previous administration went to the IMF for policy credibility in 2015, therefore, exiting the programme will mean that the West African country has met all the requirements.

He further indicated a clean verdict by the IMF will propel the Ghanaian economy to greater heights.

He said: “We have met with the Executive Director in Washington, the outgoing Mission Chief, the incoming Mission Chief, the Country representative and the local economist. These are the people in charge of our programme. This is the 7th and 8th review and after these reviews, they are going to the Board in March.

“As they go to the Board, the Board has to pass a verdict on our performance. If the Board gives us a clean bill of health then it means we have exited the programme successfully.”

He added: “We went into the programme for credibility so if you are exiting and now your economic performance and your economic programmes are declared credible, it affects the interest rate that you pay. So your rating improves, you borrow at a cheaper rate and then wherever you go, you can tap into all manner of funds, so it is a good thing to exit the programme successfully.

“You’ll recall that after we joined the programme in 2015 the programme derailed, so when President Akufo-Addo came, he decided that he’ll move the programme back on course, so, that is the verdict we expect.”