We need IMF now, Seth Terkper tells gov’t

We need IMF now, Seth Terkper tells gov’t
Source: Ghana| Myjoyonline.com
Date: 06-03-2019 Time: 05:03:12:pm
Seth Terkper wants government to be cautious about exiting the IMF.

Financial expert, Seth Terkper fears a complete breakup between Ghana and the International Monetary Fund (IMF) could cause economic problems for the country.

The Former Finance Minister has argued that although Ghana’s programme with the Bretton Woods institution is drawing to a conclusion, the government should consider flirting with the international body.

According to Mr. Terkper, the IMF was established to solve problems that Ghana is currently facing economically.

“What we are facing now is the precise moment the IMF comes and provides foreign exchange,” Seth Terkper said, adding that “we may be losing that opportunity,” should we [Ghana] exit now.

He told Gifty Andoh Appiah on The Pulse on Joy News on Wednesday that, even if the government wants to exit the programme at the end of March, they should not “exit completely.”

What has been government’s position?

The President Nana Akufo-Addo and government spokespersons have however not given the impression that they intend to lay in bed with the IMF any more than the deadline is due.

In his State of the Nation Address last month, Mr. Akufo-Addo noted that Ghana “shall sign off from the deal in April.”

He added that the government has imposed on itself a lot of fiscal discipline measures to prevent a return to the IMF.

The current IMF programme was entered into by the erstwhile John Mahama administration when Seth Terkper was Finance Minister.

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