IMF negotiations are going well; ignore frivolous allegations - Finance Ministry

The Ministry of Finance has refuted assertions the that current negotiations that the government is having with the International Monetary Fund for a bailout have been fraught with challenges. Renowned economist and senior statesman, Kwame Pianim has stated that negotiations between the government and the International Monetary Fund for an economic rescue programme are not going well. He said in an interview with Accra-based TV3 that the main reason for the situation rested on President Akufo-Addo and his embattled Finance Minister, Ken Ofori-Atta. The IMF, he said, was looking to Akufo-Addo to make a definitive pronouncement on the crisis. To own it and take critical steps to cure the issues before they come in with their support. Ofori-Atta's continued stay in office despite removal calls, he added, was not helping issues. "It is not going well, the negotiations. I know that. That is my business, to keep my ears open, I am a Ghanaian, and I am interested in the economy moving in the right direction. "We have friends in Washington so what I am saying is that it is not going well," he said But, the ministry in a statement issued Sunday, October 30, said that such statements are false. "The Ministry notes that in recent days, a number of persons have been making false claims about the ongoing negotiations with the International Monetary Fund (IMF or the Fund) "These include: that the negotiations are not going well because the Fund does not see any seriousness on the part of the government; that the government does not have a programme for consideration by the IMF; that officials of the Fund have discovered inaccuracies in the macroeconomic figures presented by the government's Economic Management Team. "The allegation that the negotiations are not going well is categorically untrue. The IMF itself has on numerous occasions stated unequivocally that negotiations are progressing well, and affirmed that both parties are fully committed to reaching a deal as soon as feasible," parts of the statement by the ministry read. Read the full statement by the minister below:

The Ministry of Finance has refuted assertions the that current negotiations that the government is having with the International Monetary Fund for a bailout have been fraught with challenges. Renowned economist and senior statesman, Kwame Pianim has stated that negotiations between the government and the International Monetary Fund for an economic rescue programme are not going well. He said in an interview with Accra-based TV3 that the main reason for the situation rested on President Akufo-Addo and his embattled Finance Minister, Ken Ofori-Atta. The IMF, he said, was looking to Akufo-Addo to make a definitive pronouncement on the crisis. To own it and take critical steps to cure the issues before they come in with their support. Ofori-Atta's continued stay in office despite removal calls, he added, was not helping issues. "It is not going well, the negotiations. I know that. That is my business, to keep my ears open, I am a Ghanaian, and I am interested in the economy moving in the right direction. "We have friends in Washington so what I am saying is that it is not going well," he said But, the ministry in a statement issued Sunday, October 30, said that such statements are false. "The Ministry notes that in recent days, a number of persons have been making false claims about the ongoing negotiations with the International Monetary Fund (IMF or the Fund) "These include: that the negotiations are not going well because the Fund does not see any seriousness on the part of the government; that the government does not have a programme for consideration by the IMF; that officials of the Fund have discovered inaccuracies in the macroeconomic figures presented by the government's Economic Management Team. "The allegation that the negotiations are not going well is categorically untrue. The IMF itself has on numerous occasions stated unequivocally that negotiations are progressing well, and affirmed that both parties are fully committed to reaching a deal as soon as feasible," parts of the statement by the ministry read. Read the full statement by the minister below: The IMF negotiations are progressing smoothly and we look forward to having a Staff Level Agreement by the end of the year. #DisregardFalseInformation #BuildingGhanaTogether pic.twitter.com/oIuy6UtZF6— Office of the Finance Minister-Ghana (@oofmghana) October 30, 2022 You can also watch this episode of People & Places on GhanaWeb TV: IB/SARA