- Deputy finance minister says government had no option than to extend the IMF deal
- The IMF deal is expected to end somewhere in 2018
Government through the deputy finance minister - Kwaku Kwarteng - has revealed that the main reason why it had to extend the IMF deal was because of threats by the fund against government's decision to end the deal.
According to him, the IMF threatened to immediately abrogate the whole deal if they declined the proposal.
"We didn’t think we needed that. So when we expressed that view to them… what we didn’t anticipate was the response we subsequently got from the IMF. It was that if we do not extend, then there is no way we were going to achieve the objectives of the programme so they will end the programme today,” he revealed in an interview with Citi FM.
President of the republic, Nana Addo had earlier revealed that his administration will not be considering the IMF program making the case that Ghana is not prepared for such a program.
Meanwhile, YEN.com.gh is gathering that the IMF approved an additional 94 million dollar disbursement for the extension which implied that freeze on government sector employment will linger on.
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