Ghanaians and stakeholders in the financial industry have been urged to pay close attention to the nature of the proposal that the government will submit to the International Monetary Fund (IMF).
President Akufo-Addo gave the instruction to Finance Minister Mr Ofori-Atta to commence engagements with the IMF on Friday, July 1 following a telephone conversation between the President and the IMF Managing Director, Miss Kristalina Georgieva, conveying Ghana’s decision to engage with the Fund.
The Ministry of Information announced this in a statement on Friday, July 1.
Former Finance Minister Mr Seth Terkper who made the call noted it is important to know where the government has reached with its engagement with the IMF so Ghanaians can focus on the nature of the proposal it is submitting.
Speaking on TV3 Friday following the government’s decision to seek a bailout at the IMF, the former Financial Minister indicated the engagement is not going to happen overnight.
According to him, it will take quite some time before conclusions are made and stressed, “It is not a one-week thing, the government may definitely have to make proposals.”
In the view of Mr Terkper, the decision to go to the Fund could have been made much earlier.
“I do agree with the sentiments that we could probably, have gone to the Fund much earlier and the situation would not have worsened,” he said.
