Former National Chairman of the People’s National Convention (PNC) Bernard Mornah has said Ghanaians should prepare for more hardships following the $ 3 billion programme approved by the International Monetary Fund (IMF) due to the conditionalities.
Already, he said, utility tariffs have been increased due to the IMF programme.
Speaking on the Big Issue on TV3 Tuesday, May 23, Mr Mornah said “You see that water tariffs have gone up. There is going to be more hardship imposed on Ghana.”
The Ministry of Finance confirmed that the first tranche of $600million of the $ 3 billion Extended Credit Facility (ECF) has been received by the Bank of Ghana (BoG).
The cash, according to the Ministry, is to help restore macroeconomic stability, sustain the country’s debts and lay a strong foundation for inclusive growth.
“The first tranche of $600million of Ghana’s low interest of $3billion Extended Credit Facility has been received to help restore macroeconomic stability, sustain the country’s debts and lay a strong foundation for inclusive growth,” the Ministry tweeted on Saturday, May 20.
Finance Minister Ken Ofori-Atta earlier stated that the second tranche was expected to be received in the next 6 months.
Speaking at the IMF-Ghana joint press conference held in Washington on Thursday, May 18, he said “There is a 600million Dollars release, I am sure we can get it by tomorrow, and in the next 6 months it is going to be another 600million dollars and then we have about five different tranches in the periods forward to get to the $3billion.”
But Bernard Mornah said, “you will have to shrink the people of Ghana before you get the second tranche.”