General News
IMF deal may affect completion of capital projects – Akufo-Addo
President Nana Addo Dankwa Akufo-Addo has admitted that the government’s engagement with the International Monetary Fund (IMF) may affect the timely completion of some capital projects.
President Nana Addo Dankwa Akufo-Addo has admitted that the government’s engagement with the International Monetary Fund (IMF) may affect the timely completion of some capital projects.
The President said part of the conditionality with the IMF may require disruption in some of the government’s infrastructure programmes.
Speaking at a meeting with the Western Regional House of Chiefs at the Jubilee House on Monday, Akufo-Addo said the IMF balance of payment support will go a long way to help the country.
He however assured that capital expenditure projects will continue but may experience some delays.
“We need to ensure that all capital expenditure projects are completed, but there will be some temporary delays while we are making the agreements with the IMF, and that is what we are experiencing now but at the end of the day we will get an arrangement that allows us to continue the projects.”
Some of the major projects likely to be affected are the construction of the National Cathedral and Agenda 111.
The President had promised on countless occasions that he will ensure the completion of the National Cathedral before his tenure ends in January 2025.
The National Cathedral project has been engulfed in several controversies and has also faced stiff opposition with a section of the public being of the view that the project is not relevant considering Ghana’s economic woes.
The Member of Parliament for North Tongu, Samuel Okudzeto Ablakwa on Tuesday, January 24 claimed that the National Cathedral project will cost the taxpayer a total of $1 billion and not $400 million as claimed by the government and members of the board of Trustees.
Mr Ablakwa who has on several occasions raised issues with the relevance of the National Cathedral said in an interview on Citi TV that the $400 million being bandied around by the government as the total cost of the project completely ignores several other factors that shoot the total cost past $1 billion.
“We were told by the Finance Minister that the project will cost $100 million, then the figure rose to $150 million. The Chairman, Opoku Onyinah later mentioned $200 million but now based on fresh documents, I have realized the project is going to cost the Ghanaian taxpayer about $1 billion.”
“The same amount former president Mahama used to set up the Ghana Gas project which is earning us about $400 million a year,” Mr Ablakwa told Umaru Sanda Amadu.
