IMF Bailout Will Help Gov’t Attain Fiscal Discipline – Alan Kyerematen

Trade and Industry Minister, Alan Kwadwo Kyerematen says the IMF bailout government is seeking will not necessarily create prosperity, but help government attain fiscal discipline and streamline its activities.

A team of IMF officials will arrive in the country today to begin talks with government on a balance of payment programme.

“The IMF itself cannot create prosperity for us, however, it comes in purely for stabilisation, balance of payment and liquidity support,” Mr. Alan Kyerematen said at a meeting with businessmen and captains of industry in Accra.

He also assured Ghanaians that government will put its best foot forward during negotiations with the IMF team.

The Ministry of Information, in a statement announcing the President’s directive, said the Minister for Finance, Ken Ofori-Atta will be leading the negotiations with the IMF.

The news has been received with mixed feelings. The Government of President Akufo-Addo initially condemned the IMF on several platforms, vowing never to seek any form of support from the fund.

Labour unions including TUC have 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.