Pulse.com.gh logo
Go


IMF Deal Nana Addo’s government must renegotiate IMF deal - Economist

The IMF deal is to help restore debt sustainability and macroeconomic stability in the country.

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

An economist Dr Adu Sarkodie has indicated that the president-elect Nana Akufo-Addo would have to renegotiate Ghana’s IMF deal if he assumes office as president.

He argues that a renegotiation will save the country from further debt.

“We must renegotiate certain parts of the IMF deal. One of the items that have contributed to the slow effectiveness of the program is that they have front loaded the policies and programs and have kept the money. So, in other words, I go into a deal with you, I expect you to take certain good steps before I hand you the money but it has not been the case in the previous IMF programs.”

READ ALSO: ADB begins trading on GSE today

“So I think that this time round the IMF should rather front load the money. They should frontload about 70% of the remaining 50% for us to stabilise because the macroeconomic stability is the most important thing,” he added.

The IMF deal is to help restore debt sustainability and macroeconomic stability in the country.

Ghana’s three-year agreement with the IMF which will see the disbursement of a total of 918 million dollars (USD 918,000,000), was approved on April 3, 2015.

READ ALSO:  Currency surges, most markets sink on Fed rate call

Dr Adu Sarkodie, however, cautioned the incoming administration to be cautious of some economic fundamentals in order to propel economic growth.

“If we are not vigilant and the exchange rate gets out of hand, it is going to multiply the external debt. Right now what we need to do is research our debt and grow our economy,” he concluded.

Ghana has so far received a total of about US$464.6 million as disbursements from the IMF.

The latest was on September 28, 2016.

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: eyewitness@pulse.com.gh.

Recommended Articles

Recommended Videos




Top Articles

1 Menzgold Ghana Don't deposit money with Menzgold – BoG cautions public againbullet
2 Roshi Motman AirtelTigo CEO resignsbullet
3 Fuel Price Hikes Fuel prices to drop again this weekbullet
4 Economy Bawumia says 'cedi depreciation temporary': Adviser says...bullet
5 Economy Bawumia must stop misleading Ghanaians over cedi...bullet
6 Salaries In 2018 Here are the dates public workers will be...bullet
7 Cedi Debate Mahama lacks understanding in Economics – Dr Bawumiabullet
8 Menzgold Ghana Investment company closes down its Gold...bullet
9 Shirley Frimpong-Manso and Ken Attoh owe The Royal Bankbullet
10 Ghana Cedi Mahama shades Bawumia over Cedi depreciationbullet

Top Videos

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

Business