Economy of Ghana IMF extension could delay fund disbursement - Economist

An economist Dr Osei Assibey explained that the IMF will only be willing to extend the deal if Ghana shows that it will be able to meet targets that they will set for the country.

  • Published:
24/7 Live - Subscribe to the Pulse Newsletter!

Ghana may have to endure a delay in the disbursement of funds from the International Monetary Fund (IMF) in this year.

This is according to an economist Dr Eric Osei Assibey. His reaction follows Ghana’s intention to seek an extension of the IMF programme.

Dr Osei Assibey explained that the IMF will only be willing to extend the deal if Ghana shows that it will be able to meet targets that they will set for the country.

Economist; Dr Eric Osei Assibey play

Economist; Dr Eric Osei Assibey


READ ALSO:  COPEC threatens demo if gov't fails to remove fuel levy

“I am not too sure whether that may also affect the releases because then obviously the Fund may also want to set certain key benchmarks for the government to meet before the releases are done. It could also have some implications on the timetable that has been set for the tranches to be released.”

“If the government succeeds in extending the time, then it may have equally succeeded in reviewing the program,” he added.

The Minister for Monitoring and Evaluation, Dr Anthony Akoto Osei revealed recently that government is considering a possible extension of the country’s programme with the IMF.


READ ALSO: Government to employ agric graduates as Extension Officers – Osarfo Marfo

“Originally the programme was expected to end on April 2018 but I know they are discussing extending it to December 2018 that may be coming at the request of the government, not the IMF. They can’t do that.  The time is too short for now. So the government thought that it may be useful to end in December rather than in April.”

“That is a proposal until the mission that came to do the assessment come back to government. Once they discuss it then there will be another meeting to formally make the request. The government has discussed that possibility with the IMF but nothing has been signed yet,” he added.

READ ALSO:  Dr Bawumia urges African leaders to leverage technology to improve lives

In a related development, urged the NPP government to among other things seek a rebate in some targets including the financing of government deficit and single digit inflation targets.

“For the zero percent financing of the budget deficit by the Bank of Ghana, I think that is a bit too strict…The law that was passed actually puts it at five percent; I think that is quite optimal for a developing country like ours,” he advised.

Do you ever witness news or have a story that should be featured on Pulse Ghana?
Submit your stories, pictures and videos to us now via WhatsApp: +233507713497, Social Media @pulseghana: #PulseEyewitness & DM or Email:

Recommended Articles

Recommended Videos

Top Articles

1 Menzgold Ghana Don't deposit money with Menzgold – BoG cautions public againbullet
2 Bauxite Mining Residents walk from E/R to Flagstaff House to petition...bullet
3 2018 World Happiness Report Somalia is a happier place to live than...bullet
4 Salaries In 2018 Here are the dates public workers will be paid in...bullet
5 MoMo Ghanaians to make int’l payments with mobile money as MTN...bullet
6 Illegal Mining 14-year-old among 10 arrested for 'galamsey' at...bullet
7 Menzgold Ghana Investment company closes down its Gold Vault...bullet
8 Nepotism In Ghana NLA boss awards sister-in-law 11...bullet
9 Police Service Debt Vodafone cuts off line to Ghana...bullet
10 Electricity Tariffs PURC gazettes tariff reductionbullet

Top Videos

1 New Discovery Ghana discovers new mineral, lithium in commercial quantitiesbullet
2 Money Alert Meet Africa's richest womanbullet
3 Forbes 2018 Africa's billionaires rich listbullet
4 Support Finance minister buys Kantanka carbullet
5 Dr Joseph Siaw Agyepong Nobody can collapse my company – JOSPONGbullet
6 New Phone Nokia’s MWC 2018 Event in Under 10 Minutesbullet
7 New Phone Nokia’s MWC 2018 event in 7 minutesbullet
8 Tech 6 reasons you should buy an iPhone SE instead of any...bullet
9 Plane Crash Starbow suspends operations following plane...bullet
10 Bozoma Saint John 10 quotes from Uber top official,...bullet