Government interests will force it to implement IMF policies - Dr Abdul-Kabiru Mahama
Technical Adviser in the Office of the Vice President, Dr. Tiah Abdul-Kabiru Mahama, assured the public that the government's interest in the bailout program will ensure that it implements the policies under the program in the IMF letter.
His statement follows concerns expressed by experts that the $600 million, which is the first part of the $3 billion IMF, will not be used in a productive wayas was the practice of the previous government. Dr.Mahama explained that this time the government is most interested in the IMF program, so he will ensure that all the plans set out in the policy are implemented.
“It is in the interest of the government to ensure that what is written is done. Because we can't have more releases if we don't get what's on paper and when we don't get morereleases from the IMF, thatmeans our program will go off the road and stuff like that Italso means that Ghanaians will return to the streets and Ghanaians will face the difficulties of the present time. So it is the government's intention that we celebrate. Let the self-interest of the government be fully guaranteed,” he said.
He went on to explain that the [IMF's] interest in the Ghanaianeconomy is also forcing the government to use the bailout money to revive the economy. "Also, there is a defense in the sense that because it is a financial program, it is money that is given as a loan that is not interested in the federalgovernment, and those who provide the money are also interested. They are interested because they are looking for financial guarantees. They don'twant a situation where Ghana can't pay them their money because the 3 billion is a loan that Ghana has to pay back. So, because I am a debtor and I have to take care of the debtor to make sure that the debtor takes action to pay me my money when it is due, that is another protection that I have -think except for the fact that the parliament has that responsibility apart from the people. as the media also has a role in the industry players asking questions and checking I think that the interest of the government and the financialinterest is the perfect input to ensure that we deliver on this program, "he added. The Board of Directors of theInternational Monetary Fund (IMF) met to approve a $3 billion rescue package to support Ghana's economic recovery on Wednesday, May 17, 2023, with the first part reaching the Central Bank account Friday, May 19, 2023.
Dr. Tiah Abdul-Kabiru Mahama speaks on the Joy News AM program and is watched by ghanaweb.
blogpay
