IMF To Begin Negotiations With Ghana On Wednesday
Officials from the International Monetary Fund are expected to arrive in the country on Wednesday to begin negotiations with the government. The team is expected to meet officials of the finance ministry, the Economic Management Team and the presidency during their one-week stay.
The Ministry of Information on Friday, announced that President Akufo-Addo has authorized the Finance Minister, Ken Ofori-Atta to commence formal engagements with the International Monetary Fund for a balance of payment support as a part of efforts to quicken Ghana’s economic recovery.
Meanwhile, The Trade Union Congress has described the government’s decision to seek a bailout from the IMF as a tragic mistake. The group is the latest to add its voice to the myriad of criticisms which has greeted government’s decision. In a statement signed by TUC’s Secretary General, Dr. Yaw Baah, the union said it considers the decision a tragic mistake and a sad one for Ghana as it sends a clear indication that the country is incapable of managing its own affairs.
Adding that, handing over the management of Ghana’s economy to the IMF will impose unnecessary hardships on Ghanaians including a possible freeze on public sector employment as has been the case in the past.