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Business News of Sunday, 23 November 2014


IMF bailout agreement could cause 2015 Budget update - Terkper

Minister of Finance Seth Terkper has hinted that the 2015 budget statement and government’s economic policy delivered in Parliament on Wednesday, November 19 is likely to be revised.

He pointed out that the revision will be made after an agreement on an International Monetary Fund backed programme is reached.

“We have always revised our budget,” Mr Terkper adduced, saying the country's laws like the mid-year reviews make room for budget revisions.

Ghana on Thursday, November 20 concluded preliminary discussions on a three-year IMF programme, pending approval by the Fund’s Executive Board.

During his delivery of the budget on the floor of the House, Mr Terkper told the legislators that “we will return to this august House with an update.”

He explained that the update may likely be in the form of revision to what he presented on Wednesday to reflect some of the policies to be agreed upon – most of which will be home-grown policies – with the IMF.

He assured that the revision will not be huge as most of the policies have been captured in the budget.

Mr Terkper made these known in an interview with Kwesi Pratt for TV3’s Hot Issues on Saturday.

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