Business News of Wednesday, 6 July 2022
Source: www.ghanaweb.live
2022-07-06The 3 economists Isaac Adongo believes should lead IMF talks
Kwame Pianim, Ishmael Yamson and Sir Sam Jonah
Government of Ghana, IMF hold bailout talks
Ofori-Atta has lost credibility, relive him from post – Isaac Adongo
Ghana facing economic distress
Deputy Ranking Members of Parliament’s Finance Committee, Isaac Adongo, has suggested government calls on three statemen to lead negotiations with the International Monetary
Read full articleFund for an economic support programme.
He believes the current Task Force led by President Nana Addo Dankwa Akufo-Addo and Finance Minister Ken Ofori-Atta did not have the gravitas to negotiate a sound deal for Ghana.
Addressing journalists at a press conference in Parliament on July 5, the Bolgatanga Central lawmaker said Messrs Kwame Pianim, an economist and founding member of the New Patriotic Party; Ishmael Yamson, formerly of Unilever and Sir Sam Jonah of Jonah Capital are the best set to represent Ghana at the IMF talks.
“They should look for Kwame Pianim immediately. He is the one who can save them and lead this team, they should go and get Ishmael Yamson and Sam Jonah the best brains in our country. Because this job is equivalent to the 1983 challenge, it’s not child play,” the lawmaker said.
He said the said three men have the requisite experience and knowledge to help government negotiate an economic support programme.
Meanwhile, officials from the International Monetary Fund arrived in Ghana on Tuesday, July 5, 2022, to commence negotiations with the government of Ghana starting July 6.
The negotiations will border on the modalities for a package to support Ghana’s economy.
The team will be led by Carlo Sdralevich, who is a renowned economist and negotiator at the Fund.
Prior to his team’s arrival in Ghana, the IMF Mission Chief in a statement noted the Fund's readiness to assist Ghana to restore macroeconomic stability, safeguarding debt sustainability, among others.
“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,” Sdralevich stated.
Government of Ghana is however targeting about US$3 billion from the International Monetary Fund under an economic support programme.
MA/FNOQ
