IMF bailout: $600m to supportgovernment projects - Dr Amin Adams
Dr Mohammed Amin Adam
The Minister of State in charge of the Ministry of Finance, Dr.Mohammed Amin Adam, has announced the use of the first installment received from the International Monetary Fund (IMF).
According to him, part of the money will be used to support the policies and programsapproved by the parliament. "The budget contains programsand projects approved by parliament and when we talk about budget support, we have a financial component.
"Of course there is a deficit that we have to get money, we would have borrowed money to pay this money, so with the IMF money coming in, if you are going to support the same projects, road projects, projects Railways, health, infrastructure, telecommunications," he said. Speaking on JoyNews' Newsfile on Saturday, Dr Adams explained that although the government's intention to raise$600 million may seem to many to be a waste of money, it is the best way to manage transitional security. of Ghana in development.
"In the past, IMF support was intended to provide balance of payment support, the Bank of Ghana would only receive money and use it to build its reserves. "Now, you get two benefits, the money comes intothe Bank of Ghana account, the bank will also issue cedis and not only there. The release of cedis by the Bank of Ghana will happen. happen on time. "You have to work hard at the security level where you have to get the cedi equivalent of the dollar to finance the programs and projects that are approved in the budget," he told host Evans Mensah.
Responding to Mr Adam's request, the Yapei-Kusawgu Constituency Member of Parliament, Abdulai John Jinapor asked, “You confirmed in this program [Newfile] that the $600 million will be used to pay for the construction of the bridge. Can you confirm this with permission in this event [Newsfile]?
He added that the work thatthe Minister of State said was not listed in the budget annex of3A, which is a summary of the work of the state. Mr Jinapor added that Mr Adam's statement that the money would be used to fund roads "will not happen".
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