{"id":105429,"date":"2015-04-06T08:30:32","date_gmt":"2015-04-06T08:30:32","guid":{"rendered":"http:\/\/4cd.e16.myftpupload.com\/?p=105429"},"modified":"2015-04-06T14:00:05","modified_gmt":"2015-04-06T14:00:05","slug":"success-of-imf-programme-will-depend-on-us-mahama","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/?p=105429","title":{"rendered":"Success of IMF programme will depend on us \u2013 Mahama"},"content":{"rendered":"<p style=\"text-align: justify;\">President John Mahama has pointed out that the success of the International Monetary Fund&#8217;s (IMF) three-year extended credit facility approved for Ghana will largely depend on citizens.<\/p>\n<p style=\"text-align: justify;\">[contextly_sidebar id=&#8221;FDISASqU7yFgsTej0p7pYk1H2VHdHxZX&#8221;]\u201cThis needs a lot of hard work on our own part because the success of the extended credit facility will depend principally on ourselves, not on the IMF, not on the World Bank or not on our development partners. It means that we must exercise fiscal discipline and we must live within our means,\u201d he explained<\/p>\n<p style=\"text-align: justify;\">The IMF approved an e<span style=\"color: #666699;\"><a style=\"color: #666699;\" href=\"http:\/\/4cd.e16.myftpupload.com\/2015\/04\/03\/imf-board-approves-ghanas-3-yr-deal\/#sthash.b6MrPHVY.dpbs\" target=\"_blank\"><strong>xtended credit facility worth $918 million<\/strong><\/a><\/span> last Friday for Ghana after several months of deliberations.<\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #333333;\">The Ghana<span style=\"color: #666699;\"><strong style=\"color: #666699;\"> g<a style=\"color: #666699;\" href=\"http:\/\/4cd.e16.myftpupload.com\/2014\/10\/05\/this-may-be-ghanas-last-imf-bailout-mahama\/#sthash.VX5YNMKV.P2KqLQwz.dpbs\" target=\"_blank\">overnment turned to the IMF<\/a><\/strong><\/span><\/span> in 2014 for a bailout as a result of high inflation rates, depreciation of the cedi, huge public sector wage bill and a host of other factors which were crippling the economy.<\/p>\n<p style=\"text-align: justify;\">Finance Minister, Seth Terkper has said that the expected initial tranche of $114 million will be used to shore up the Bank of Ghana\u2019s (BoG) declining reserves.<\/p>\n<p style=\"text-align: justify;\"><strong>IMF programme will stabilize economy<\/strong><\/p>\n<p style=\"text-align: justify;\">Though President Mahama is optimistic the facility would help stabilize the economy, he insisted that the country would have to work hard and be disciplined in its spending to achieve the objective of the programme.<\/p>\n<p>President Mahama who made the statement when he joined the Muslim leaders in Kumasi in the Ashanti Region to celebrate the birth of Prophet Mohammed,\u00a0described the IMF deal as good news for Ghana because \u201cit allows us to work together with our bilateral and multilateral partners to stabilize our economy and accelerate the growth of our economy.\u201d<\/p>\n<p style=\"text-align: justify;\">\u201cAt the same time it allows us to deepen our social protection intervention to help cushion the poor and vulnerable in our society,\u201d he expressed.<\/p>\n<p style=\"text-align: justify;\">&#8211;<\/p>\n<p style=\"text-align: justify;\">By: Godwin Allotey Akweiteh\/citifmonline.com\/Ghana<\/p>\n<p><a class=\"twitter-follow-button\" href=\"https:\/\/twitter.com\/AlloteyGodwin\" data-show-count=\"false\">Follow @AlloteyGodwin<\/a><br \/>\n<script>\/\/ <![CDATA[\n!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=\/^http:\/.test(d.location)?'http':'https';if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=p+':\/\/platform.twitter.com\/widgets.js';fjs.parentNode.insertBefore(js,fjs);}}(document, 'script', 'twitter-wjs');\n\/\/ ]]><\/script><\/p>\n<p style=\"text-align: justify;\">\n","protected":false},"excerpt":{"rendered":"<p>President John Mahama has pointed out that the success of the International Monetary Fund&#8217;s (IMF) three-year extended credit facility approved for Ghana will largely depend on citizens. [contextly_sidebar id=&#8221;FDISASqU7yFgsTej0p7pYk1H2VHdHxZX&#8221;]\u201cThis needs a lot of hard work on our own part because the success of the extended credit facility will depend principally on ourselves, not on the [&hellip;]<\/p>\n","protected":false},"author":24,"featured_media":105279,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[],"tags":[43,38,21,4],"class_list":["post-105429","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-foresight-medical-center","tag-palaver-newspaper","tag-psychiatric","tag-st-augustines-college"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/105429","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=105429"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/105429\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/media\/105279"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=105429"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=105429"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=105429"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}