The flagbearer of the opposition New Patriotic Party (NPP), Nana Addo Dankwa Akufo Addo has said he would not hesitate to renegotiate the IMF deal should the need be, when he was elected president.
According to him, he was mindful of the fact that any international agreement that the Mahama led government enters into now, would be binding on him should be become President in 2017.
A team from the International Monetary Fund has reached an agreement to bail out Ghana’s economy with US$950 million.
Nana Addo’s running mate, Dr Mahamudu Bawumia who is a Visiting Professor of Economic Governance at the Central University College (CUC) at a public lecture on the topic: “The IMF bailout: Will the anchor hold?’ on Tuesday said any economic and financial programme was only as good as the data used to formulate the programme.
Dr Bawumia argued that the anchor being sought from the IMF for Ghana’s economy would not hold if the data upon which the programme was built were not credible and said there were inconsistencies with the two main sets of data on inflation and gross domestic product (GDP) which provided the basis on which the IMF programme was fashioned.
Commenting after the public lecture, Nana Addo told Joy FM that even though the programme may be binding on any new government that comes to power, it doesn’t prevent the new government from renegotiating it, if finds it necessary.
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