The Ministry of Finance has advised Ghanaians to disregard false narratives relating to the International Monetary Fund (IMF) negotiations and instead rely on official communications from the Ministry and the IMF.
It noted that such falsehoods contribute to the erosion of stability in the economy and could unduly hold back the strong progress of negotiations so far.
This was contained in a press statement released on Sunday by the Ministry of Finance in Accra.
According to the release, in recent days, several persons have been making false claims about the ongoing negotiations with the International Monetary Fund.
“These include: that the negotiations are not going well because the Fund does not see any seriousness on the part of the government, that the government does not have a programme for consideration by the IMF and that officials of the Fund have discovered inaccuracies in the macroeconomic figures presented by the government’s Economic Management Team,” it stated.
It noted that the IMF has on numerous occasions stated unequivocally that the negotiations are progressing well and affirmed that both parties are fully committed to reaching a deal as soon as feasible.
The release also refuted the claim that the government does not have a programme for consideration by the IMF.
“To the contrary, the government had submitted its Post COVID Programme for Economic Growth to the Fund, which programme has formed the basis of negotiations,” it added.
It also pointed to the public an IMF press release from October 20, 2022, which stated that discussions between the Ghanaian delegation and IMF staff regarding the government’s post-COVID economic growth programme and associated policies and reforms that could be supported by a new IMF arrangement were very fruitful.
“The Ministry of Finance strongly denies that there were inaccuracies in the figures presented to the IMF, leading to so-called ‘credibility issues.’ None but accurate figures have been presented to the IMF and the Ministry has been fully transparent at all times. The Ghanaian negotiating team remains credible and highly respected and has enjoyed great cooperation from the IMF. To suggest otherwise is false, misleading and pure mischief which must be ignored.
“It is disappointing that at a time when the Republic is engaged in serious efforts aimed at ensuring macroeconomic stability, the propagation of falsehoods and misrepresentations, supported by the publication of same, appear to be gaining notoriety,” it added.
It noted that such unfounded and misleading statements undermine national efforts when introduced into public discourse.
The release also urged Ghanaians, particularly journalists, to verify claims about the ongoing IMF negotiations on the following official dedicated websites: Finance Ministry: www.mofep.gov.gh/news-and-events/imf-updateIMF: www.imf.org/en/Countries/GHA 9.
“The Ministry of Finance assures Ghanaians that the Government of Ghana is working assiduously to complete negotiations and restore the economy to macroeconomic stability. Further inquiries may be directed to firstname.lastname@example.org,” it added.
Patience Anaadem, ISD