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IMF team to meet Finance Minister, others today as negotiations begin

Officials of the International Monetary Fund (IMF) will today meet Finance Minister, Ken Ofori Atta and some key officials of the Finance Ministry as the Fund officially begins work on the bailout being sought by the country.

The IMF team will today examine government’s fiscal expenditure and projections for the year 2022.

As part of the deliberations, the IMF team will also look at the public sector wage bill, negotiations, and reforms in the government payroll.

Labour unions, including the Trades Union Congress (TUC), had lambasted the government for its decision to seek support from the fund.

They said government resorting to the IMF means the economy will likely reel under several restrictions and controls to be imposed by the fund.

Civil society organisations also expressed their displeasure at the government’s request for a bail-out from the IMF.

They corroborated the concerns of TUC, saying the economic hardship being endured by the people will get worse with IMF restrictions.

Meanwhile, the IMF’s social media platforms have been inundated with comments from Ghanaian netizens warning the fund against bailing the Ghanaian government out unless enough fiscal disciplinary measures are put in place.

Analysts suggest that it would take at least three months for a programme to be agreed upon between the parties.

Source: Citi Newsroom

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