IMF bailout: Minority blows alarm over a looming 3million job loss

By Benson Afful

Minority Chief Whip Kwame Governs Agbodza has alleged that the government plans to cancel or suspend some 60 projects as a result of conditionalities in the negotiations for a $3 billion International Monetary Fund (IMF) economic programme.

He also disclosed that the suspension of the said projects would lead to about 3 million job losses hence the need for the government to be transparent about the conditions of the IMF deal.

Addressing a press conference in Accra on Monday, the Adaklu MP questioned why government o cials were negotiating the deal in secrecy.

".......as we sit here, a series of meetings have taken place with a close group of people in the NPP where about sixty projects and programmes are going to either be suspended or cancelled. These projects include the Obetsebi Lamptey road extension, the La and Shama General Hospital projects, the Tema Motorway Road project, and the Adomi Bridge project.”

"Nobody knows what Finance Minister, Ken Ofori-Atta, and the Head of the Economic Management Team Vice President Dr Mahamudu Bawumia is negotiating for," he said.

“You will be surprised this govern- ment paid some of the developers 15 per cent to 20 per cent mobilization fees and the contractors are sitting in their o ces drinking tea because the government is unable to tell them whether to go ahead because the Finance Minister basically asked them to suspend all those projects and we are currently losing value because the contractors have taken the money and no work is currently going on.”

He also demanded transparency in the selection of these projects for either suspension or cancellation.

“What are the underlying principles of the selection of the projects the NPP wants to cancel, suspend or go ahead with? We all have to have an understanding of this because the lack of understanding creates anxiety.”