The Founder of Danquah Institute has commended the government for securing a Staff- Level agreement with the International Monetary Fund (IMF) in five months. 

Mr Gabby Asare Otchere-Darko said the ability of the government to also get the full amount it requested from the Bretton Woods Institution is remarkable. 

According to him, this has been successful because the government’s negotiating team did not give heed to their detractors. 

The outspoken politician in a tweet on Tuesday, December 13, said there were “lies” that the Fund did not have confidence in the government’s negotiators. 

“To get to a Staff Level Agreement (SLA) with the IMF within 5 months and for the full amount requested is remarkable.

To get to a Staff Level Agreement (SLA) with the IMF within 5 months & for the full amount requested is remarkable. It was good the Ghana team stayed focused; not distracted by those who kept pushing the fake narrative that IMF had no confidence in the head of the Ghanaian team.

— Gabby Otchere-Darko (@GabbyDarko) December 13, 2022

“It was good the Ghana team stayed focused; not distracted by those who kept pushing the fake narrative that IMF had no confidence in the head of the Ghanaian team,” he tweeted. 

The Fund on Monday in a press release said it has reached a Staff-Level Agreement on economic policies with the Ghanaian government. 

This is to be supported by a new three-year arrangement under the Extended Credit Facility (ECF) of about $3 billion.

According to a statement from the fund, the government’s strong reform programme aimed at restoring macroeconomic stability and debt sustainability while protecting the vulnerable, preserving financial stability and laying the foundation for strong and inclusive recovery, was key in this decision.

However, the staff-level agreement is subject to IMF Management and Executive Board approval and receipt of the necessary financing assurances by Ghana’s partners and creditors.