Former Admiral John Dramani Mahama has bidding his ambition to renegotiate the acceding of an International Monetary Fund (IMF) bailout and enhance bounded buying of approaching oil and mining projects if he wins the accessible December election. In an annual with Reuters, Mahama stated, "I've been in an IMF programme before, back I was president, and I apperceive that the IMF is not afraid to sitting and talking and renegotiating issues." But how achievable is this? Can a government renegotiate an IMF Extended Credit Facility (ECF) afterwards disbursements accept already been made, decidedly afterward a change in government? Answer: Yes, a government can renegotiate an IMF Extended Credit Facility (ECF) alike afterwards disbursements accept been made, abnormally in the case of a change in government. However, the renegotiation action can be circuitous and depends on assorted factors. Over the accomplished six decades, about 95 countries accept adjourned their deals with the IMF. These renegotiations accept generally been all-important due to bread-and-butter crises, changes in government, or abortion to accommodated the aboriginal affairs targets

Read also: Mahama would renegotiate IMF accord if he regains presidency Why Is Renegotiation Possible? Renegotiation of IMF deals is achievable because IMF programs are advised to be adjustable to a country's alteration bread-and-butter and political circumstances. The IMF recognizes that political shifts, such as a change in government, can advance to new action priorities or abrupt bread-and-butter challenges. As a result, adjustments can be fabricated to absolute agreements through affairs reviews and revisions

Are There Empirical Examples? Greece (2015): One of the best acclaimed cases of renegotiation with the IMF occurred in Greece in 2015. Back the Syriza affair came to power, they approved to renegotiate the acceding of Greece's bailout affairs with the IMF and European creditors. Although the negotiations were contentious, the program's acceding were eventually adapted to reflect the new government's priorities

Argentina (2019): Argentina provides addition example. Afterwards a change in government in 2019, the new administering led by Alberto Fernández adjourned the IMF acceding active by the antecedent government. The Fernández administering aimed to abate acerbity measures and extend the claim agenda to accomplish the affairs added acquiescent accustomed Argentina's bread-and-butter crisis

Ukraine (2014): Afterwards the 2014 anarchy and a change in government, the IMF revised its acceding with Ukraine to annual for the new bread-and-butter realities and political landscape. The affairs was adapted to accommodate added abundant banking abetment and abode the different challenges faced by the new government

What About the Case of Ghana? The success of renegotiation in Ghana will depend on its adeptness to cross bread-and-butter realities and defended IMF cooperation, aloof as it was for added nations. The government will charge to accommodate a able-bodied bread-and-butter justification, ensure that the proposed behavior adjust with IMF goals and defended accessible abutment for the new strategy

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