Gov’t will contain appetite to overspend despite IMF exit – Senior Minister

Yaw Osafo-Maafo, Senior Minister

Senior Minister, Yaw Osafo-Maafo has assured citizens that government will continue to be disciplined, prudent, and be on a strict spending regime despite exiting the International Monetary Fund (IMF) programme by close of year.

He said while containing government appetite to overspend, they will go by the Fiscal Responsibility Act and Fiscal Responsibility Council soon to be active.

“We must discipline the system so that we wouldn’t have to go to the IMF to tell us what to do again,” Hon. Osafo-Maafo stressed.

The IMF programme started in 2015 and was extended for another year after the initial agreement ended.

The Akufo-Addo regime seeks to have legislation to have a fiscal cap of the fiscal deficit to promote both budget credibility and fiscal sustainability. The Finance Minister would also be reminded not to go beyond a certain threshold about the deficit target.