President Mahama has not ruled out the possibility of extending Ghana’s Extended Credit Facility with the IMF, a member of the NDC Communications team clarified on Tuesday.
Hamza Suhuyini Sayibu dismissed media reports suggesting the president had rejected any such extension. Instead, he stressed that the current focus remains on fulfilling the commitments of the three-year programme already in place.
Speaking on TV3’s New Day, Sayibu explained that during President Mahama’s recent Bloomberg interview, his remarks were intended to emphasize the importance of meeting existing economic objectives rather than precluding future discussions about additional support. “What the president was saying is that we have signed a three-year programme and must remain committed to our goals. There’s no decision yet on extending it,” he said.
Sayibu further noted that the president is fully aware of the political implications tied to economic decisions. “We are dealing with a leader who understands that even in engagements with institutions like the IMF, language matters. The president would never use terms like ‘reject’ when he knows it could affect our collective objectives,” he remarked.
At the sidelines of the Munich Security Conference, Mahama underscored his government’s dedication to fiscal discipline and prudent financial management. “If it becomes necessary to look at additional funds or to extend the programme, we will consider it,” he stated, adding that for now, the focus is squarely on continuing with the current path.
Analysts view this measured stance as a strategic move to safeguard Ghana’s economic stability while keeping future options open. The careful wording not only aims to preserve Ghana’s standing with international partners but also highlights the government’s commitment to achieving its fiscal targets before exploring further financial arrangements. As the dialogue on economic policy evolves, investors and observers alike will be closely watching how these decisions shape Ghana’s fiscal trajectory in the months ahead.
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