IMF Deal: Haruna Iddrisu Insists It’s Premature To Celebrate Staff-Level Agreement

IMF Deal: Haruna Iddrisu Insists It’s Premature To Celebrate Staff-Level Agreement

  • The minority in parliament is insisting it is too early to celebrate the IMF staff-level agreement
  • Minority Leader Haruna Iddrisu says there are more hurdles to be crossed before the $3 billion bailout package is reached
  • This comes after a joint conference on Tuesday, December 13, 2022, between the government and the IMF announced significant progress in negotiations for a deal

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The Minority Leader, Haruna Iddrisu has called for cautious optimism in the celebrations over the country’s Staff-Level agreement with the International Monetary Fund (IMF).

According to him, there are more hurdles to be crossed before the Akufo-Addo-led government finalizes a $3 billion bailout package.

Haruna Iddrisu insists it’s too early for government to celebrate a staff-level agreement with the IMF
Minority Leader Haruna Iddrisu Image Credit: @HarunaInstitute
Source: Facebook

IMF Deal: Ghana Announces Significant Progress In Negotiations For Bailout Package

This comes after a joint press conference on Tuesday, December 13, 2022, announced significant progress in Ghana’s efforts to reach an IMF deal to help the country’s ailing economy.

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Following that agreement, there has been jubilation among some government officials which the Tamale South MP believes is too premature.

IMF Staff-Level Agreement: You're Jubilating Too Early, There Are Still More Processes Ahead Of Us - Minority To Government

Speaking on the floor of parliament, Haruna Iddrisu said there are still a lot more processes ahead of the country before the deal is clinched.

“For Staff-Level Agreement, I see them dancing and celebrating to it. It is premature. Our debt is still not sustainable. The debt exchange initiative of the Minister may probably fail, as many are refusing to sign onto it.”

He also called for the approval to be laid before parliament for consideration in accordance with the 1992 constitution as it is an international agreement.

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“Economic Maguire” & Ofori-Atta secure win for cedi against dollar after IMF staff-level deal

The minority leader touching on the recent gains of the cedi also called on the finance minister, Ken Ofori-Atta to desist from rejoicing because the cedi was faring better before he became a minister.

IMF And Ghana Reach Staff-Level Agreement For New Three-Year $3 Billion Extended Credit Facility

Earlier, reported that the IMF staff and Ghana, led by finance minister Ken Ofori-Atta, have reached a staff-level agreement on economic policies and reforms to be supported by the $3 billion Extended Credit Facility (ECF).

A statement authored by IMF Press Officer, Nico Mombrial, said the reforms presented by Ofori-Atta and his team aim to restore macroeconomic stability and debt sustainability while protecting the vulnerable.

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