Former Member of Parliament for New Juaben South Constituency of the Eastern Region, Dr. Mark Assibey Yeboah has revealed that the International Monetary Fund (IMF) is likely not to work if government is not transparent with real data on Ghana’s economy.
Speaking in an interview on Citi TV’s Face to Face, Assibey Yeboah says the rhetorics from government spokespersons must be measured because the Fund could walk away if we conceal vital information on the current status of the country’s economy.
” We should not be carried away by the fact that we are seeking support from the IMF. Because the Fund, might walk away if we don’t reveal the truth about the problems mitigating our economic”
On whether the IMF will put restrictions on some sectors of our economy, Assibey Yeboah said that is not the case.
” What happens is that first, the Finance Ministry will come up with a Letter of intent (LOI), spelling out what government want from the fund. If it is accepted, then negotiations begin. If there is no acceptance, then the fund will advise as to what to do”
President Nana Addo Danquah Akufo-Addo last Friday, July 1st 2022, ordered the Finance Minister Ken Ofori Atta to begin formal engagements with the International Monetary Fund to help cushion the country’s economy.