Former Deputy Minority Leader and Member of Parliament for Ketu North Constituency, Mr James Klutse Avedzi says the impact of the IMF bailout will only be felt by Ghanaians after nine months or a year of implementation.
Although he did not say whether the impact will be negative or positive, he believed it was too early to assess it.
Mr. James Klutse gave the assertion in an exclusive interview with Ama Gyenfa Ofosu Darkwa on Atinka TV’s morning show, Ghana Nie.
In May 2023, Ghana received the first $600 million tranche of a $3 billion, three-year extended credit facility by the International Monetary Fund (IMF).
This was confirmed by the Finance Minister, Ken Ofori-Atta said on Friday, May 19, 2023.
The facility is expected to support the budget of the country and as well bring down inflation.
The International Monetary Fund’s executive board on Wednesday approved the $3 billion, three-year rescue loan, paving a potential path out of Ghana’s worst economic crisis in a generation.
Speaking about this on Atinka TV, James Klutse Avedzi said after six months, the impact felt will be based on whether the Government did the right things or wrong things.
“The effect will not come immediately, it is when you begin to behave well, thats the work of the quip, the effect of that role will start showing after a year or so,” he said.
The MP continued,” Immediately, we will not see anything. We are not seeing anything yet because it will not happen now, after eight, or nine months of getting to a year then we will begin to feel the impact of good behaviour, and fiscal discipline. We are now behaving well.
There are certain expenditures we are not supposed to incur, so we are not doing, but without the IMF, we are free to do it.”