The EU is optimistic that it will resume budget support to Ghana following the adoption of the IMF’s three year extended credit facility program
EU could step in to plug budget shortfalls. Its help, however, will come at a price. According to Mr. William Hanna, the Head of the European Union Delegation in Ghana, budgetary support for Ghana is conditioned on certain rules and prerequisites, all of which the implementation of the IMF three year extended credit facility program will ensure.
The inking of the IMF deal therefore sets the stage for possible resumption of EU budgetary support to Ghana. Mr. Hanna stressed that the EU appreciates the Ghanaian government’s commitment to improving public payroll management. “We are looking forward to the publication of the quarterly progress reports by the inter-ministerial committee on payroll,” he said, adding that the government’s effort to root out ghost workers was also appreciated.
The IMF deal that Ghana signed seems to have opened up a slew of opportunities for the country. One prominent retired diplomat and international relations expert, however, feels that Ghana can get a better deal away from the IMF.
While IMF deals seem to unlock other benefits, a prominent diplomat has urged Ghana to joing the new Asian Investment Bank, saying that it is a better option to IMF
As Money Matters Africa reported earlier, Dr Daniel N. Kotei, a retired Diplomat has asked Ghana to join the Asian Investment Bank (AIB), saying that it is much better than IMF. AIB, which China established together with other Asian countries in October 2014, has gained notable momentum since its inception.