The third tranche of the International Monetary Fund’s (IMF) 360 million dollar release is expected to hit Ghana’s account today, Monday, July 1, following a successful review of the country’s performance by the Fund.
According to the IMF, Ghana’s performance under the programme has been generally strong.
Already, the Finance Minister and the IMF’s country manager are expected to hold a joint news conference this afternoon to disclose the details of the latest development.
But speaking to the media, the Finance Minister Dr Mohammed Amim Adam said he is hopeful of better days for the economy.
“After meeting the requirements for the second review following the staff-level agreement, I am glad to announce that the IMF Executive Board approved Ghana’s second review with an overwhelming support for Ghana.
“This is coming after an earlier approval of the first review in January 2024. This is an important positive development in our journey towards macroeconomic stability,” the Minister added.
Meanwhile, the Chief Executive Officer of the Chamber of Independent Power Generators, Ghana (IPPS), Dr Elikplim Kwabla Apetorgbor, says the Independent Power Producers (IPPs) have not agreed to a haircut after six years of negotiation with the government of Ghana.
According to Dr Elikplim Kwabla Apetorgbor, the Minister of Finance, Dr Mohammed Amin Adam’s statements on the matter are misleading and inaccurate.
“The last engagement with some of the IPPs and the government of Ghana’s negotiating team occurred in April [2024] and since then, no agreement on any terms have been reached.
“The posture and generalisation that the government has secured a debt restructuring agreement with the IPPs are misleading and amount to public deception”, he added.
“We urge the Minister of Finance to refrain from making such inaccurate statements and to engage in transparent and honest communications”, he pointed out.
He concluded that the IPPs remain committed to constructive dialogue and finding a mutually beneficial resolution to the ongoing discussions.
But Joy Business understands that only two IPPs, CenPower and Amandi accepted the government’s proposal to restructure the IPPs’ debt.
The rest, Karpowership, Twin City Energy, Sunon Asogli, Cenit Energy and AKSA rejected the haircut proposal by the government of Ghana.
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