A visiting IMF mission to Ghana will from Wednesday June 17, 2015 start assessing government?s performance under the 3-year fund programme.

wpid-IMF-Managing-Director-Christine-Lagarde-300x210.jpgThe assessment which is likely to last for about two weeks will look at how far government has come in meeting critical conditions and targets under the bailout deal.

The review, which is likely to ?be concluded by the end of this month, will look at whether government is doing enough to contain its rising public debts which has hit about 88 billion Ghana cedis as at March 2015.

Basically the Fund will be doing a critical review of the country?s debt management strategy.

Another area that will take the team?s attention is the cedi depreciation.

Sources say the IMF is seriously worried that its technical and financial assistance to Ghana has not done much to halt the cedis?s depreciation which has hit about 4 Ghana cedis 23 pessewas per dollar.

The cedi has depreciated by about 10 percent since the IMF program.

The FUND is therefore likely for push for some corrective actions or tough measures on fiscal side and some monetary policy tightening to help halt the cedi fall.

This could possibly result in a review of the entire targets set under the 3-year programme on revenue, expenditure and debts targets.

For deputy Minister of Finance Mona Quartey, government has come far in implementing measures set under the program which will result in Ghana scoring some high marks at the end of the review.

The review today is critical to enable Ghana receive the remaining 804 million dollars under the?IMF?programme.

If Ghana passes its first review with the Fund then this might pave the way the second tranche of 114 million dollars to be disbursed to the economy. Some donor funds will also be expected to release frozen funds.

Source-.myjoyonline.com

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