Ghana is expecting the 2nd tranche of $100m in Augus
Ghana is expecting the 2nd tranche of $100m in Augus

The Executive Director of the Institute of Fiscal Studies (IFS), Professor Newman Kwadwo Kusi, has called for an immediate renegotiation of Ghana?s programme with the International Monetary Fund (IMF).

Ghana is expecting the 2nd tranche of $100m in Augus
Ghana is expecting the 2nd tranche of $100m in Augus

According to the economist, some of the targets are unrealistic for a three-year austerity programme.

Ghana secured a $940 million deal with the Fund early this year with the first tranche of $114 million already received.

The programme was secured to boost confidence of investors and donors in the Ghanaian economy, which had been plagued with challenges.

The Fund completed its first review of the programme last week, commending the authorities for a satisfactory work done so far. It has announced the release of the next tranche of $100 million in August.

But speaking on TV3?s News 360 on Tuesday, July 7, Professor Kusi said it is high time government renegotiated some of the targets as they are ?either unrealistic or too optimistic within three years to be achieved?.

?Those targets and conditions that we think we will not be able to achieve within [the three-year period], we should renegotiate,? he demanded.

He cited targets such as the country?s gross domestic product (GDP) and inflation as two areas that cannot meet the three-year deadline.

Last week, the Minister of Finance, Seth Terkper, gave the strongest indication that Ghana will go full haul on the programme.

Opposition Leader Nana Addo Dankwa Akufo-Addo has, on the other hand, hinted that his government will renegotiate some portions of the deal if he wins the 2016 elections.

Source: tv3network.com

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