9 weeks after IMF exit, gov’t is back for $1bn in loans – Oppong Nkrumah questions fiscal strategy

“It is because the domestic resource mobilisation measures are not performing that nine weeks after the IMF left town, they have gone back to the debt markets and are asking Parliament to approve close to one billion dollars.”According to the Ofoase-Ayirebi MP, the latest borrowing requests raise concerns about the government’s domestic revenue mobilisation efforts and the country’s long-term debt sustainability.

He argues that barely nine weeks after Ghana exited the International Monetary Fund (IMF) Extended Credit Facility (ECF) programme, the Mahama administration is back in Parliament seeking approval for almost $1 billion in fresh loans.