IMF Deal Extension NPP will pay for credit facility extension in 2020-Kennedy Agyapong

The Member of Parliament for Assin Central Kennedy Agyapong explained that the restriction which comes from the conditionalities is dangerous for the governing NPP.

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MP for Assin Central, Kennedy Agyapong play

MP for Assin Central, Kennedy Agyapong

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The New Patriotic Party (NPP) legislature for Assin Central Kennedy Agyapong has predicted that the governing party will find it difficult in 2020 if it extends the credit facility with the International Monetary Fund (IMF)  up to 2019.

He explained that the restriction which comes from the conditionalities is dangerous for the governing NPP.

“We have a lot of restrictions and it is not business friendly. During the era of President Kufuor, we managed to cut them off and we survived. There were two things they kicked against but he went ahead and implemented them. National Health Insurance Scheme was one of them and when they realized it was getting successful, they tried to come back.”

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He disclosed that there are other bodies interested in investing in Ghana but could not do so because the signed onto the IMF deal.

“There are a lot of avenues out there. When anyone takes your profile, he looks at the amount you are entitled to under the World Bank conditionalities and gets disappointed. As a nation, we cannot do two billion dollars just because of the world bank.”

“The World Bank and the IMF conditionalities won’t help Ghana in any way. These whites will only end up suppressing us with harsh conditions. I know Nana Addo is not happy about it but his ministers surrounding him are being difficult and pushing for this deal.”

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“If we should continue this deal till the 2020 elections, then we (NPP) will be in big trouble and this can cost us the 2020 elections and so the President should act fast” he warned.

On April 2015, Ghana entered into the three-year program with the IMF for a total amount 918 million US dollars which were expected to be disbursed in eight equal tranches.

The programme was expected to be terminated by the end of 2018. The programme is now set to end in 2019 after Ghana and the IMF agreed to continue the bailout programme for one more year.

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