IMF: Bawumia’s planned address apt – IEA’s Kwakye

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The Director of Research at the Institute of Economic Affairs (IEA) Dr John Kwakye has welcomed the decision by the Vice President Dr Mahamudu Bawumia who is also head of the Economic Management Team, to speak on the decision by the government to go to the International Monetary Fund (IMF) for support.

Speaking at the #3businesscolloquium organized by Media General on Wednesday July 6, he said “I hear that the Vice President is going to speak on the subject and explain why we chose to go to the IMF. It is not too late, I would have wished that it came earlier.

“I expect that the he should tell us why they have taken us to the IMF, he should explain to us the crisis we are facing and assure Ghanaians that we are try to get the best deal.”

A leading member of the New Patriotic Party (NPP) Gabby Otchere-Darko revealed on Tuesday July 5 that Dr Mahamudu will be speaking on Ghana’s decision to go to the International Monetary Fund (IMF) during the official launch of the collaboration between Accra Business School and South East Technological University, Ireland.

The event is expected to take place in Accra on Thursday July 14.

An IMF staff team, led by Carlo Sdralevich, mission chief for Ghana, will be in Accra from July 6 – 13 for initial discussions with the Ghanaian authorities about a possible IMF-supported programme.

Mr. Sdralevich in a statement said “On the basis of a request from the Ghanaian authorities, an IMF staff team will in the coming days kick-start discussions on a possible program to support Ghana’s homegrown economic policies. We are at an early stage in the process, given that detailed discussions are yet to take place.”

“The IMF stands ready to assist Ghana to restore macroeconomic stability, safeguard debt sustainability, and promote inclusive and sustainable growth, and address the impact of the war in Ukraine and the lingering pandemic.”

“We are looking forward to our engagement with the authorities in Accra,” the Fund said.

The Government of Ghana on Friday July 1 announced that it was seeking support from the IMF.

This followed a telephone conversation between the President and the IMF Managing Director, Miss Kristalina Georgieva, conveying Ghana’s decision to engage with the Fund, a statement by the Ministry of Information said.

By Laud Nartey||Ghana

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