IMF programme won’t be extended – Nana Addo

The President Nana Akufo-Addo has stated that the International Monetary Fund (IMF) programme that Ghana is currently undergoing is not going to be extended. He said, “There is no question of the IMF being extended, It will end as agreed in April 2018.”

There were earlier media reports suggesting the likely extension of the programme from April 2018 to December 2018. President Akufo-Addo was speaking at the media encounter to mark the NPP government’s sixth month in power.

The IMF had earlier on also suggested to the government of Ghana that it request an extension. 

Earlier, Reuters reported that, “The programme is going to be extended until December 2018.”The report quoted a senior government source who declined to be identified.

Finance Minister’s earlier response on programme extension issues

Finance Minister Ken Ofori Atta had earlier told JOYBUSINESS government will be able to implement all the required reforms to help complete the IMF programme as scheduled.

His response follows concerns that government might have to embark on a “front-loaded adjustment program” to bring the economy back on track and to also help meet the April 2018 deadline for programme completion.

Speaking to JOYBUSINESS’s George Wiafe on the sidelines of the IMF/World Bank spring meetings in Washington DC, Mr. Ofori-Atta said these tough measures and reforms would have to be implemented even if the country was not under a fund program.

He added that the programme should not be seen as one which is putting undue pressure on government. 

“We are confident that we will meet the targets that we have set this year, and remember that the FUND will be with us, as we work through the 2018 budget, and we are truly committed to ending the program in April 2018,” he said.

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