News | Government hopeful of completing final IMF exit processes this month

Government hopeful of completing final IMF exit processes this month

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Business News of Monday, 11 February 2019

Source: citibusinessnews.com

Mark Assibey Yeboah MpChairman of the Finance Committee of Parliament, Dr. Mark Assibey-Yeboah

Government says it is confident of finishing the processes that will allow Ghana officially exit the International Monetary Fund programme in April 2019.

A team from the International Monetary Fund (IMF) which is expected in Ghana this month, is scheduled to meet parliament’s finance committee on the 20th of February, to review the relevant data to ascertain if Ghana has met the set targets for the 8th and final review.

Speaking on issue, the Chairman of the Finance Committee of Parliament, Dr. Mark Assibey-Yeboah, said Ghana will need a final approval from the IMF board.

“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.”

While highlighting the relevance of the final review to Citi Business News, Dr. Assibey-Yeboah touched on the progress 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.”

Dr. Assibey-Yeboah, however, stressed that a lot of discipline in adhering to the passage of the fiscal responsibility act will be required to ensure that Ghana does not return to the Bretton Woods Institutions.

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By Genny Smith 11/02/2019 08:29:00