{"id":433795,"date":"2017-11-03T09:25:59","date_gmt":"2017-11-03T09:25:59","guid":{"rendered":"https:\/\/ghana-mma.com\/2017\/11\/03\/govts-high-expenditure-projects-problematic-imf\/"},"modified":"2017-11-03T09:25:59","modified_gmt":"2017-11-03T09:25:59","slug":"govts-high-expenditure-projects-problematic-imf","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2017\/11\/03\/govts-high-expenditure-projects-problematic-imf\/","title":{"rendered":"Gov\u2019t\u2019s high expenditure projects problematic \u2013 IMF"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/ghanamma.com\/wp-content\/uploads\/2017\/11\/OFORI-ATTA-KEN-475x267.jpg\" \/><\/p>\n<div>\n<aside class=\"mashsb-container mashsb-main mashsb-stretched\"> <\/aside>\n<p>The International Monetary Fund (IMF) has said government\u2019s\u00a0high expenditure projects is likely to hamstring it\u2019s bid to create a fiscal space as promised Ghanaians.<\/p>\n<p>The Akufo-Addo government is\u00a0providing free secondary school education for all eligible\u00a0Ghanaians. It has also among other things promised to construct at least, a factory in every district across the country and also provide one million cedis to every constituency for local development.<\/p>\n<p>But the IMF has expressed misgivings about the high expenditure projects saying the trajectory may have adverse impact of shocks and affect fiscal discipline.<\/p>\n<p>\u201c The fund is concerned that while on the one hand government has passed the Earmarked Funds Capping and Realignment Act, ostensibly to create fiscal space, on the other, the government has chosen to embark on a series of high expenditure projects, a move which appears to defeat of EFCRA,\u201d the IMF said in a document compiled after a meeting between the IMF mission to Ghana and the Civil Society Platform on the IMF program.<\/p>\n<p>It further added: \u201cThe IMF considers it a misplaced priority to be working towards reducing the indebtedness of State Owned Enterprises without first addressing the causal factors responsible for their indebtedness.<\/p>\n<p>\u201cIn the view of the IMF, the government should have issued a \u201cVanilla bond\u201d, not a bond through a Special Purpose Vehicle (SPV).<\/p>\n<p>\u201cIMF does not support massive injection of liquidity into the sector to address debt situation. It believes that a better approach would be to release the liquidity in tranches,\u201d<\/p>\n<p>\u00a0<\/p>\n<\/p><\/div>\n<p><script>(function(d, s, id) {var js, fjs = d.getElementsByTagName(s)[0];if (d.getElementById(id)) return;js = d.createElement(s); js.id = id;js.src = \"http:\/\/connect.facebook.net\/en_US\/sdk.js#xfbml=1&appId=1136575713042949&version=v2.3\";fjs.parentNode.insertBefore(js, fjs);}(document, 'script', 'facebook-jssdk'));<\/script><script>(function(d, s, id) {var js, fjs = d.getElementsByTagName(s)[0];if (d.getElementById(id)) return;js = d.createElement(s); js.id = id;js.src = \"http:\/\/connect.facebook.net\/en_US\/sdk.js#xfbml=1&version=v2.6\";fjs.parentNode.insertBefore(js, fjs);}(document, 'script', 'facebook-jssdk'));<\/script><\/p>\n<p>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a style=\"display:none\" rel=\"follow\" href=\"http:\/\/megatheme.ir\/\" title=\"\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633\">\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The International Monetary Fund (IMF) has said government\u2019s\u00a0high expenditure projects is likely to hamstring it\u2019s bid to create a fiscal space as promised Ghanaians. The Akufo-Addo government is\u00a0providing free secondary school education for all eligible\u00a0Ghanaians. It has also among other things promised to construct at least, a factory in every district across the country and [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":433796,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-433795","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Gov\u2019t\u2019s high expenditure projects problematic \u2013 IMF - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2017\/11\/03\/govts-high-expenditure-projects-problematic-imf\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Gov\u2019t\u2019s high expenditure projects problematic \u2013 IMF - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"The International Monetary Fund (IMF) has said government\u2019s\u00a0high expenditure projects is likely to hamstring it\u2019s bid to create a fiscal space as promised Ghanaians. 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