{"id":58463,"date":"2023-04-17T09:11:36","date_gmt":"2023-04-17T09:11:36","guid":{"rendered":"https:\/\/www.ghanamma.com\/2023\/04\/17\/terkper-warns-govt-against-potential-threat-to-imf-programme-if-deal-is-closed\/"},"modified":"2023-04-17T09:11:36","modified_gmt":"2023-04-17T09:11:36","slug":"terkper-warns-govt-against-potential-threat-to-imf-programme-if-deal-is-closed","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2023\/04\/17\/terkper-warns-govt-against-potential-threat-to-imf-programme-if-deal-is-closed\/","title":{"rendered":"Terkper warns govt against potential threat to IMF programme if deal is closed"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"td-post-featured-image\"><img loading=\"lazy\" decoding=\"async\" width=\"600\" height=\"300\"  alt=\"\" title=\"Seth-Terkper.jpg\" src=\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2023\/04\/Seth-Terkper.jpg\" data- class=\"entry-thumb lazyload\"\/><noscript><img loading=\"lazy\" decoding=\"async\" width=\"600\" height=\"300\" class=\"entry-thumb\" src=\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2023\/04\/Seth-Terkper.jpg\"   alt=\"\" title=\"Seth-Terkper.jpg\"\/><\/noscript><\/div>\n<p><strong>Former Finance Minister Seth Terkper has said if care is not taken, the GHS22billion \u2018fiscal offset\u2019 in the 2023 budget could retard progress under an International Monetary Fund  ( IMF) programme.<\/strong><\/p>\n<p>He stated that about a month ago, he drew attention to the problem of arrears the government owed suppliers, contractors, employees. <\/p>\n<p>\u201cWe noted that they are as important as the ongoing debate on domestic &amp; external public debt,\u201d he tweeted.<\/p>\n<p>He added \u201d We must stress: every government has to deal with arrears in every Budget. Hence, the issue is [a] how to sought to improve on the method of compilation &amp; reporting: and how this effort was distorted in the 2017 Budget.<\/p>\n<p>\u201cWe show  the 2016 \u201coffsets\u201d &amp; bailout \u201cfootnotes\u201d appear to resurface in the 2023 Budget; but to paint a positive picture. If not addressed, it will [a] retard progress under an IMF programme; and haunt a new government [NDC?]. Case in point? Single Spine. Tune in.\u201d<\/p>\n<p>Reg<strong>ardi<\/strong>ng the IMF deal the Finance Minister Ken Ofori-Atta said the government expects the IMF board approval of the deal it is seeking with the Fund by May this year.<\/p>\n<p>He told the investors on the sidelines of the ongoing IMF\/World Bank Spring Meetings in Washington, D.C. USA on Thursday, April 13 that \u201cWe do at this time expect an IMF board approval in May and contemplate a rapid negotiation of a Memorandum of Understanding (MoU) with our creditors. We have made significant efforts on all fronts.\u201d<\/p>\n<p>He further assured the investors that the government had taken a number of steps to ensure that the challenges with the nation\u2019s\u00a0finances\u00a0are tackled.<\/p>\n<p>He told the investors on the sidelines of the ongoing IMF\/World Bank Spring Meetings in Washington, D.C. USA that the country is undergoing debt restructuring as part of efforts to secure a deal with the\u00a0IMF.<\/p>\n<p>said \u201cGhana has done a number of things, first of all with regards to the Paris Club, we did travel to China, we sort support from India and the Saudis and really maintained open relations with the Club.<\/p>\n<p>\u201cWe did get to the Club to let them know that we were worried about the track record of the common framework, we have had a good relationship, we really commend the Paris Club for the sense of urgency that they have and we are confident that they will be able to bring the assurances to the Bank in the coming week.\u201d<\/p>\n<p>He also indicated that Government intends to deepen the relationship with its external creditors.<\/p>\n<p>\u201cWe reaffirm our commitment to work with our private and commercial creditors in all of our engagements,\u201d he stressed.<\/p>\n<p><strong>By Laud Nartey|3news.com|Ghana<\/strong><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Former Finance Minister Seth Terkper has said if care is not taken, the GHS22billion \u2018fiscal offset\u2019 in the 2023 budget could retard progress under an International Monetary Fund ( IMF) programme. He stated that about a month ago, he drew attention to the problem of arrears the government owed suppliers, contractors, employees. \u201cWe noted that [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":58464,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-58463","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Terkper warns govt against potential threat to IMF programme if deal is closed - 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\/2023\/04\/17\/terkper-warns-govt-against-potential-threat-to-imf-programme-if-deal-is-closed\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Terkper warns govt against potential threat to IMF programme if deal is closed - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"Former Finance Minister Seth Terkper has said if care is not taken, the GHS22billion \u2018fiscal offset\u2019 in the 2023 budget could retard progress under an International Monetary Fund ( IMF) programme. 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