Ghana Gets IMF Bailout In April –Kwesi Botchway

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The Ghanaian team negotiating with the International Monetary Fund (IMF) for bailout,, has concluded it discussions with the Fund, with the ball now in the court of the development partner to make the bailout available as early as possible.

Head of the IMF Negotiation Team, Dr. Kwesi Botchway, who is the Chairman of the National Development Planning Commission (NDPC), revealed this at a meeting with the President, John Dramani Mahama, on Wednesday.

According to him, most of the outstanding issues with the Fund, have been concluded, adding it is expected, that the Programme would be realized not later than April 2015, when the IMF Executive Board, meets.

President Mahama, met the Presidential Advisory Group on the Economy (PAGE) to review the ongoing negotiations with the IMF.

The meeting took place days after members of the diplomatic corps in Ghana, gave their fullest support to the President to pursue the IMF bailout in the face of stiff opposition from the New Patriotic Party (NPP), led by the Running Mate to Nana Akufo-Addo, Dr. Mahamudu Bawunia.

The meeting, the first for the year, also reviewed the implementation of the 2015 Budget and how to consolidate the gains so far made.
Opening the meeting, President Mahama, thanked the Group for their invaluable advice and support in the last year.

The Advisory Group, which includes Vice President, K. B. Amissah-Arthur, Investment Consultant and Economist, Kwame Pianim, former Executive Secretary of the Economic Commission for Africa, Dr. K. Y. Amoako, and Finance Minister, Seth Terkper, also discussed extensively the impact of the world market price of crude oil on the Ghanaian economy.

Other discussions were on the Inter-ministerial Committee on Pay Roll with a recommendation that the Action Plan is presented to Cabinet for consideration in the next few days.

The other members of the Group, who were present in the meeting were, Dr. Nii Moi Thompson, Acting Director General of the NDPC, a former deputy governor of the Central Bank, Nana Oye Mansa Yeboaa, and Governor of the Central Bank, Dr. Kofi Wampah.

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