AGI wants IMF negotiations participation




Chairman of the Greater Accra Regional branch of the Association of Ghana Industries (AGI), Tsonam Akpeloo, has said that his association is seeking to engage the Ministry of Finance to enable them be part of the ongoing negotiations with the International Monetary Fund (IMF).

This, he said, would enable the voice of the AGI be heard in the matter.

“We intend to engage the Ministry of Finance to see how the AGI can be part of the conversation. Of course we are not sovereign, we can’t negotiate but at least so our voices can be heard going forward in discussing these IMF conversations,” he said during the 3businesscolloquium organized by Media General on Wednesday July 6.

During the event, Information Minister Kojo Oppong Nkrumah said that President Nana Addo Dankwa Akufo-Addo is chairing the task force for the engagement with the IMF.

The Minister of Finance Ken Ofori-Atta and his team are leading the data-sharing exercise during the engagements, he added.

The data-sharing, he explained, will determine what Ghana is qualified for and what it is not qualified for under the programme.

Asked whether the Finance Minister is leading the negotiations, Mr Oppong Nkrumah answered “The President is chairing the task force, the Finance Minister and his team are from today, leading the data-sharing exercise. When they are done the Mission Chief and the President will have a number of conversations. The President has already spoken to the Managing Director of the Fund itself.”

The Ofoase Ayirebi lawmaker added “The first part of the conversation is sharing of data. The data has its interpretation and the data will tell us what we qualify for and what we don’t qualify for.”

The IMF staff team, led by Carlo Sdralevich, mission chief for Ghana, is in Ghana to begin initial discussions with the Ghanaian authorities about a possible IMF-supported programme.

Mr. Sdralevich in a statement said “On the basis of a request from the Ghanaian authorities, an IMF staff team will in the coming days kick-start discussions on a possible program to support Ghana’s homegrown economic policies. We are at an early stage in the process, given that detailed discussions are yet to take place.”

“The IMF stands ready to assist Ghana to restore macroeconomic stability, safeguard debt sustainability, and promote inclusive and sustainable growth, and address the impact of the war in Ukraine and the lingering pandemic.”

“We are looking forward to our engagement with the authorities in Accra,” the Fund said.

The Government of Ghana on Friday July 1 announced that it was seeking support from the IMF.

This followed a telephone conversation between the President and the IMF Managing Director, Miss Kristalina Georgieva, conveying Ghana’s decision to engage with the Fund, a statement by the Ministry of Information said.


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