The Ministry of Finance has denied recent reports circulating on Myjoyonline, asserting that Ghana missed the International Monetary Fund’s (IMF) November 1 deadline for the disbursement of the second tranche.
In an official press release issued by the Public Relations Unit of the Ministry of Finance on Friday, the Ministry clarified that there was no November 1, 2023, deadline set by the IMF for the second tranche disbursement.
The Ministry emphasized that the disbursement is contingent upon the approval of the first review by the IMF Executive Board.
Myjoyonline’s report, referencing Table 9 on page 72 of the Memorandum of Economic and Financial Policies (MEFP) published on May 17, 2023, was debunked by the Ministry.
The November 1 date mentioned in the table pertains to the indicative timeline for the completion of the first review, not the disbursement itself.
The Ministry highlighted that the first review was successfully completed on October 6, 2023, culminating in a Staff Level Agreement (SLA) on the same day.
Furthermore, the Ministry pointed out the inconsistency in Myjoyonline’s reporting.
On November 2, 2023, the news outlet published an article titled “IMF Executive Board to meet in 3rd week of November, Ofori Atta hints,” indicating that the Executive Board meeting was anticipated in the third week of November, thereby contradicting the alleged November 1 deadline.
External debt restructuring negotiations, according to the Ministry, are progressing smoothly as Ghana adheres to its strategic plan.
The Government is actively engaging the Official Creditor Committee (OCC) of the Paris Club, working towards securing a Memorandum of Understanding on debt restructuring, and preparing to go before the IMF Executive Board for the approval of the first review.
The Ministry urged the general public and media houses to verify information and seek clarification directly from the Ministry to ensure accurate reporting.
They emphasized their commitment to transparency and encouraged the public to visit their official website www.mofep.gov.gh or contact them via email at email@example.com.