IMF bailout: We’re confident of securing third tranche – Amin Adam

The Finance Minister, Dr Mohammed Amin Adam has expressed confidence that the International Monetary Fund (IMF) will release the third tranche of the three billion dollar bailout once an MOU with the external creditors is secured.

“We do not have any reason to suggest that the board will miss this because essentially we have agreed to all that we need to do and the only outstanding issue is the draft from the official creditors this May if we have that there won’t be any lengthy negotiation.

Meanwhile, Abebe Selassie, Director of the African Department at the International Monetary Fund (IMF), has stated that the fund will not require the Ghanaian government to implement additional adjustments.

He expressed optimism that ongoing discussions among official creditors will facilitate the conclusion of talks, enabling the release of the third tranche of funds.

Answering questions at a session at the World Bank Bank, IMF Spring Meetings in Washington on Thursday, April 18, he said “Whereas it took nine months or more for Zambia to get the official creditor committee to be created, in Ghana’s case it was very rapid and that is what allowed us to go to the board and get the programme approved.

“We are very hopeful that ongoing discussions among official creditors will also expeditiously allow us to conclude the upcoming review

So we will provide all the information necessary so creditors can move, allowing us to go to the board as soon as possible.”