IMF Bailout Mahama Calls For Fiscal Discipline

President John Mahama says the IMF's credit facility can only be beneficial if a high level of Fiscal discipline is maintained.

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President John Dramani Mahama, says the International Monetary Fund, IMF's three year extended credit facility for Ghana, can only be beneficial if a high level of Fiscal discipline is maintained.

The IMF two days ago approved a three-year credit facility of about nine hundred million dollars for the country.

President Mahama stated this when he joined the Muslim community in Kumasi in a night vigil to mark the Birthday of the Holy Prophet Mohammed known as Maulid.

He appealed to communities to take it easy on government with their demands so as not to throw the budget out of gear.

The approval of the three year program by the IMF is to restore debt sustainability and prevent unnecessary social spending. The facility will also ensure macroeconomic stability and facilitate job creation.

According to President Mahama, the success of the facility will depend on hard work and living within certain limits. He craved the indulgence of all citizens to make the program live its full potential to enable the country reap the required benefits

President Mahama, also used the occasion to speak on Peace. He commended Nigeria for the peaceful manner in which their elections were held. He said Peace is a valuable asset and Ghana's own peaceful environment should be treasured.

The President stated that it is about time Ethnicity and Religion are put into perspective spelling out the fact that the two are a recipe for disaster.

The Hajj Committee led by Ibrahim Abdul Rauf Tanko, was highly commended by President Mahama, for a successful Hajj last year.

He said government will ensure that the Hajj fare is not increased this year to enable many more Muslims to fulfill their obligatory religious duty.

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