IMF Deal: John Kumah ‘Jubilates’; Says Naysayers Who Were Skeptical Have Been Shamed

• The ministry of finance says political opponents who were skeptical about the IMF deal have been shamed
• A deputy finance minister Dr John Kumah says even though the staff-level agreement is not ultimate, it is a critical step
• This follows the announcement of an initial agreement with the Bretton-Woods institution

A Deputy Minister of Finance, Dr John Ampontuah Kumah, says political opponents who were sceptical about the country reaching a deal with the International Monetary Fund (IMF) have been shamed.

According to him, the successful negotiation of the deal within five (5) months is something naysayers didn’t believe could happen.

IMF Staff-Level Agreement: Ghana Reaches Initial Deal For $3 Billion Bailout Package With Bretton-Woods Institution

This comes on the back of an announcement of a Staff-Level agreement with the IMF for a $3 billion economic bailout.

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Minority Leader insists it’s too early to celebrate IMF staff-level agreement

Speaking to Accra-based Citi News on the back of this, Dr John Kumah said even though this first step is not the ultimate deal, it is very critical towards clinching the agreement.

IMF Deal: Political Opponents Did Not Believe An Agreement Will Be Reached Within 5 Months

“Many people did not give Ghana the chance that it will be possible within five to six months to be able to achieve a Staff-Level Agreement in an IMF programme. On the whole, we just want to give thanks to the Lord for Ghana to achieve this at this level.”

The Ejisu MP also denied claims that there were not broad consultations on the Debt Exchange Programme saying immediate bondholders were consulted before last week’s announcement.

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

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Minority in Parliament denies claims it is in bed with Akufo-Addo government

Earlier, YEN.com.gh reported that the Minority Leader, Haruna Iddrisu had called for cautious optimism in the celebrations over the country’s Staff-Level agreement with the IMF.

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

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.

Source: YEN.com.gh