Gist: Ghana hopeful of completing final IMF exit processes in February  (Read 498 times)

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Ghana hopeful of completing final IMF exit processes in February
by PulseNG « on: February 11, 2019, 07:08:19 PM »




Ghana hopeful of completing final IMF exit processes in February

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  • A team from the IMF is expected to visit Ghana in February 2019.
  • The team from IMF is scheduled to meet parliament’s finance committee on the 20th February.
  • The IMF team will review the relevant data to determine if Ghana has met the set targets for the 8th and final review.

               
           
               
                   

The Chairman of the Finance Committee of Parliament, Dr. Mark Assibey-Yeboah, has said that the government is confident of finishing the processes that will allow Ghana officially exit the International Monetary Fund (IMF) programme in April 2019.


               
           
               
                   

He said that the government is looking forward to receiving the findings of the IMF after a team from the Bretton Woods institution visits Ghana this month.


               
           
               
                   

“Now we are looking at an April deadline for the board to look at their findings. So if the board gives us a clean bill of health then we would have successfully concluded the three-year extended credit facility program entered into in 2015 and which was extended by another year by the NPP.”


               
           
               
                   

He said the team from IMF is scheduled to meet parliament’s finance committee on the 20th February, to review the relevant data to determine if Ghana has met the set targets for the 8th and final review.


               
           
               
                   

Dr Assibey-Yeboah emphasised that the final review is relevant since it will indicate the progress of Ghana’s macro-economic indicators will have on the final review.


               
           
               
                   

“I don’t think there’s cause for alarm. The macro indices are good, the macro indicators are all trending in the direction that the IMF and the country as a whole will expect,” he said.


               
           
               
                   

“I am not worried at all. I should see this mission successfully complete and Ghana exit the program at the end of April,” he told Accra-based Citi FM.


               
           
               
                   

However, Dr. Assibey-Yeboah, the government must adhere to the passage of the fiscal responsibility act in order not to return to the IMF for a bailout.


Source: Ghana hopeful of completing final IMF exit processes in February

- gist culled from pulseng