Business News of Thu, 9 Nov 20179

$2.5bn Bond: IMF not God – Kwaku Kwarteng

The deputy minister for Finance Kwaku Kwarteng has dismissed a suggestion from the International Monetary Fund that the government should have issued a Vanilla bond and not a bond through a Special Purpose Vehicle (SPV).

“In the view of the IMF, the government should have issued a “Vanilla bond” not a bond through a Special Purpose Vehicle (SPV),” the IMF stated in a document intercepted by Starr News.

The IMF also added that it recognizes the recently issued energy bond as public debt and insists that the government classifies it as such.

But in a response Mr Kwarteng said the IMF are not God, adding that the government must not take on board every suggestion from that organisation.

“The IMF made that suggestion but…the Minority should move from that mentality that the ‘IMF are gods’ and whatever they say we must do,” Kwarteng told host of Morning Starr Francis Abban Thursday.

His comments come after Government failed to meet its target for the first tranche of the bond after a second attempt.

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