Mahama has not ruled out extension of IMF Programme – NDC comms team member

A Member of the National Democratic Congress (NDC) Communications team, Hamza Suhuyini Sayibu, has clarified that President Mahama has not ruled out completely any extension of the Extended Credit Facility (ECF) agreement with the International Monetary Fund (IMF).

Speaking in an interview on TV3’s New Day, Hamza Sayibu noted that media reports about President Mahama rejecting an extension of the IMF programme are “misleading.”

He explained that the President during his interview with Bloomberg only meant that Ghana is committed to achieving its economic objectives now and decision about an extension of the programme has not yet been made.

“In the case of President Mahama, he is not ruling out the possibility of an extension. All what he’s saying is that we signed a three-year programme with the IMF, let’s stay committed in achieving those commitments we should not jump the gun by talking about possible extension when we are still more or less working on our objectives.

“The media reportage on the issue has somehow been misleading,” he stated on Tuesday, February 18, 2025.

According to him, the President is aware of the implications of using words such as rejection of the programme and will not take such a decision.

“We are dealing with a President who knows that even with your engagements with institutions like the IMF, they are largely political because economic decisions influence political outcomes and the reverse is also true.

“President Mahama will not stoop so low to using words like reject when he knows the political implications of such utterances as far as the International Multilateral Organisations are concerned even on our collective objective,” he added.

In an interview with Bloomberg on the sidelines of the Munich Security Conference, Mahama emphasized his government’s commitment to staying on course with the current programme. “We’ve not talked about an extension of the programme. We are determined to continue with this programme,” he stated.

He emphasized that the government’s immediate priority was fiscal discipline and prudent financial management.

“If it’s necessary to look at additional funds or to extend the programme, we’ll look at it, but for now, we are determined to continue on this trajectory,” he added.

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