Negotiation with IMF was diligent - Oppong Nkrumah

He mentioned that the government and all stakeholders involved in the negotiation of securing funds were at their best.

In a discussion on Citi TV, Mr. Nkrumah said naysayers had consistently doubted the success of the program since its announcement, but the hard work exhibited by the government quickened the process leading Ghana to secure a bailout in record time.

“You will recall that when the government announced sometime last year that it wanted to reach a staff-level agreement by the end of December, the suggestion was that, it could not be done, thankfully we were able to do it. When the government announced that we were hoping to conclude this deal around May, again, the view was that it can’t happen, but I think, every step of the way, we must give credit to the people of Ghana and the government of Ghana”.

“The government of Ghana and the people of Ghana have done a very diligent negotiation with the Finance Minister leading the team. We have done a very good negotiation and the program is described as a strong program that leads the foundation for a robust recovery so rather our attention should be the need to ensure that we successfully implement the program’s parameters and meet the program’s targets so that the benefits accrue and not a new attempt to make arguments that the way it has been done so quickly, then it must have been a poor negotiation”.

Ghana has received the first tranche of a $3 billion bailout package of a $600 million relief fund from the International Monetary Fund (IMF)

Ghana is expected to get about $3 billion spread over three years under the IMF program.