Ghana will still not go to the IMF – John Kumah

The government has ruled out the possibility of turning to the International Monetary Fund (IMF) for a programme to salvage the economy.

Ghana exited an Extended Credit Facility Programme a few years ago after completing a program for budgetary support of less than US$ 1 billion.

Owing to the current economic constraints of the country, some have suggested that a return to the IMF will bring some reprieve but answering questions on the floor of Parliament on behalf of the Minister for Finance, Deputy Minister, Dr. John Kumah said the government still does not intend to return to the IMF.

“Government has resolved to take necessary and tough measures to restore and sustain macro stability as well as promote credibility and investor confidence through the implementation of government’s fiscal consolidation and debt sustainability measures. We will continue to collaborate to the fund as we stabilize the economy for a strong economy and revitalization. As we speak, Ghana is not going to the IMF, but we also want to make it clear that we will continue to work with the Fund for fiscal consolidation and debt sustainability.”