Nduom doubts govt will adhere to IMF bailout condtions

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Nduom doubts govt will adhere to IMF bailout condtions

Details: Parent Category: Main; Category: NewsBrief; Created on Wednesday, 15 October 2014 00:00

the economy

Nduom doubts govt will adhere to IMF bailout condtions

Founder of Progressive People Party (PPP) has doubted adherence to IMF bailout conditions by Ghana government in case the country secures a Fund programme from the Washington-based lender.

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Dr. Papa Kwesi Nduom who was once Ghana's Minister for Public Sector Reform said government has gained international noteriety for repeated non adherence to IMF bailout conditions -- a situation he said has given Ghana a bad name in the eyes of development partners.

Government is currently negotiating with the Bretton-Woods institution for economic assistance. The second round of negotiations -- after a similar one in September -- is currently underway in Washington DC.

Negotiators from Ghana led by former Finance Minister, Kwesi Botchwey, are expected to conclude possible bailout talks with an IMF team by Friday October 17.

Dr. Nduom told journalists in Accra Tuesday government would have to abide by promises it will make to letter in order to redeem its image internationally.

According to him after a team of government officials agree, sign and secure funding for a project to commence, another group of officials present a new set of documents subsequently with alterations to the former agreement.

"This has been a habit of ours: non performance", he stressed.

"We want our government to learn from this bad experience and the bad name they [government] have been giving to this nation and all of us", he said.

Dr. Nduom also warns of huge job cuts in the public sector under a possible Fund programme, despite assurances by government that public sector workers will not be affected.

He however adviced government to stick to conditionalities that will come with a possible Fund programme.

Source: Myjoyonline.com | George Nyavor | This email address is being protected from spambots. You need JavaScript enabled to view it.