A former national chairman of the People’s National Convention (PNC), Bernard Mornah, has warned that further sufferings may befall Ghanaians as a result of the conditions attached to the $ 3 billion program that the International Monetary Fund (IMF) has authorized.
Utility rates have already climbed as a result of the IMF scheme, he claimed.
Mr. Mornah made this statement while speaking on the Big Issue on TV3 Tuesday, “You see that water tariffs have gone up. There is going to be more hardship imposed on Ghana.”
The Bank of Ghana (BoG) has received the first tranche of the $600 million Extended Credit Facility (ECF), according to the Ministry of Finance.
The money, according to the Ministry, will assist establish a firm basis for inclusive growth, maintain the nation’s debt obligations, and restore macroeconomic stability.
“The first tranche of $600million of Ghana’s low interest of $3billion Extended Credit Facility has been received to help restore macroeconomic stability, sustain the country’s debts and lay a strong foundation for inclusive growth,” the Ministry tweeted on Saturday, May 20.
The second tranche is anticipated to be received within the next six months, according to prior comments from Finance Minister Ken Ofori-Atta.
Source: Mybrytfmonline.com/Joseph Asare
