‘Negotiations not going well’ – Adom-Otchere confronts Pianim with IMF statement

Paul Adom-Otchere, host of the Good Evening Ghana programme on Metro TV has challenged a recent claim by renowned economist Kwame Pianim that the government’s negotiations with the International Monetary Fund was not going well. Pianim in an interview with Accra-based TV3 disclosed that according to his sources in Washington, the talks were not going well because of a lack of political assurance and the involvement of Finance Minister Ken Ofori-Atta. “It is not going well, the negotiations. I know that. That is my business, to keep my ears open, I am a Ghanaian, I am interested in the economy moving in the right direction. We have friends in Washington so what I am saying is that it is not going well,” Pianim stated. Adom-Otchere is, however, in disagreement with Pianim’s views citing the October 20 IMF statement after the last round of talks between the Ofori-Atta-led delegation that was in Washington weeks back. After playing a snippet of Pianim’s interview on the October 27 edition of Good Evening Ghana, Adom-Otchere read out the IMF statement before making his conclusion that the Fund’s position was at variance with Pianim’s claims. “We love Mr. Kwame Pianim he is a very distinguished economist but he said a few things that show a bit of deficit. “The IMF statement uses words like we made good progress and it was fruitful, so Mr. Kwame Painim’s testimony is not borne out by the IMF statement… Unless of course, he suspects the IMF statement is not honest, I don’t think he suspects that. “So, Kwame Pianim’s situation is not borne out,” he stressed. He also disclosed that information the Good Evening Ghana show had was that the IMF was rather keen on revenue mobilization efforts on the part of the government as talks continue. We've made good progress – IMF on Ghana's support programme talks The IMF team, led by Stéphane Roudet, after meeting with Ofori-Atta and Bank of Ghana Governor, Dr. Ernest Addison in Washington DC, said both teams had a fruitful discussion in identifying specific policies that would restore macroeconomic stability. “The Ghanaian delegation and IMF staff had very fruitful discussions on the authorities’ post-COVID program for economic growth and associated policies and reforms that could be supported by a new IMF arrangement. “We made good progress in identifying specific policies that would restore macroeconomic stability and lay the foundation for stronger and more inclusive growth. The IMF team and the Ghanaian authorities remain fully committed to reaching an agreement on a framework and policies for an IMF-supported program as soon as feasible. Discussions will continue in the weeks ahead, with a follow-up mission to take place expeditiously,” Stéphane Roudet said in a statement after the meeting. SARA/PEN