Bawumia to address Ghanaians on IMF
Speaking as a Guest of Honour at the Accra Business School and South East
Technological University in Ireland’s formal inauguration ceremony,
Dr. Mahmudu Bawumia will deliver a speech.
Gabby Asare Otchere-Darko, a prominent NPP member, made the announcement.
Many Ghanaians are denouncing the administration for breaking its vow not
to seek aid from the International Monetary Fund (IMF).
As of July, President Akufo-Addo gave the Ministry of Finance the green light to begin official negotiations with the
International Monetary Fund (IMF).
The IMF group is expected to arrive in the nation on Tuesday, according to a statement
issued by the Ministry of Finance on Monday.
Bank of Ghana (BoG) Information Minister Kojo Oppong Nkrumah says the bank needs
$3 billion to strengthen its buffer.
He claims that out of the total, $1 billion is currently accessible.
In the beginning, the Minister of Finance said that plans had been made to get
$2 billion, of which $1 billion was accessible.
To prevent further depreciation of the cedi, we want approval from Parliament before we may accept.
Even when our domestic measures improve, we have a solid foundation of reserves
to satisfy our liquidity and debt service commitments.
“You have a chance to have a dialogue with the Fund,” he says.
In addition, the government has said that its involvement with the IMF would
not harm some of its most visible programs.
Acclaimed government programs like free SHS and Agenda 111, according
to Abena Osei-Asare Deputy Minister of Finance, would remain in place.
To reassure the public, we say, “We’ve been here before (at the IMF), and we still
made sure development could happen…
and it won’t be any different this time.
The school feeding program was continued and extended under an IMF
project from 2017 to 2019.
In 2017 when we arrived, there were around 1.3 million students receiving school
meals, but by 2019 that number had grown to over two million under the IMF program.
We implemented the Free Senior High School Initiative in September 2017 under
an IMF program,” she told Accra-based Asaase radio