The government hopes to have completed the last IMF exit processes this month

Company News of Monday, February 11, 2019

Source: citibusinessnews.com

2019-02-11

The government is confident in the completion of processes that will allow Ghana to formally withdraw from the International Monetary Fund's program in April 2019.

A team from the International Monetary Fund (IMF), due to visit Ghana this month, is scheduled to meet with the Parliament's Finance Committee on February 20 to review relevant data to determine whether Ghana has reached goals set for the 8th and last meeting. review.

Dr. Mark Assibey-Yeboah, chairman of Parliament's Finance Committee, said Ghana would need the final approval of the IMF's board of directors.

"We are now looking at the April deadline for the board to review its findings. So, if the board of directors gave us an irreproachable state of health, we would have successfully concluded the three year extended credit program entered into in 2015 and extended for an additional year by the nuclear plant. "

While highlighting the relevance of the final review in relation to Citi Business News, Assibey-Yeboah spoke of the progress made by Ghana's macroeconomic indicators in the final review.

"I do not think there is anything to be alarmed about. The macro indices are good, the macro indicators are all in the direction expected by the IMF and the country as a whole, "he said.

"I'm not worried at all. I should see this mission come to a successful end and Ghana leave the program at the end of April. "

Mr. Assibey-Yeboah, however, stressed that it was necessary to exercise great discipline to respect the adoption of the Fiscal Responsibility Act to ensure that Ghana does not return to the Bretton Woods institutions.