The University Teachers Association of Ghana (UTAG), says it will not accept any conditions that will disadvantage its members as the government goes to the International Monetary Fund (IMF) for an economic bailout.
In a statement issued on Monday, July 4 and signed jointly by its National President, Prof. Solomon Nunoo and National Secretary, Dr. Asare Asante-Annor, the Association stated that it has taken note of the government’s application for economic assistance from the Fund further stressing that it will not welcome any policy directive from the Fund with adverse effects.
Part of the statement read “We, thus, feel uneasy with the Government’s decision given its potential negative impact on UTAG members, and by extension public sector workers, and its repercussion on the operations of Public Universities”, a portion of the statement read.
President Nana Addo Danquah Akufo Addo on Friday July 1, 2022 directed the finance minister, Ken Ofori Atta to commence formal engagement with the International Monetary Fund (IMF), inviting the fund to support an economic program put together by the government of Ghana.
This followed a telephone conversation between the president and the IMF managing director, Miss Kristalina Georgieva.
Read Also: Teacher Unions declare indefinite strike
The engagement with IMF is expected to give the country a bailout of Ghana’s economic situation which is characterized by public debt, rising inflation, and fuel prices among others.
In a statement issued on Friday, July 1, 2022, by the information minister, Kojo Oppong Nkrumah said “the engagement with the IMF will provide a balance of payment support as part of a broader effort to quicken Ghana’s build back in the face of challenges included by the Covid-19 pandemic and the Russia-Ukraine crises.”
However, UTAG in its release indicated that the Government of Ghana must ensure that the conditions subsequent to the support will not disadvantage the Conditions of Service of Labour Unions, including UTAG. In particular, UTAG would not tolerate any IMF conditionality that negatively affects the existing agreements between Government and UTAG to improve the Conditions of Service of our members”.
UTAG also urged the President and government to take advantage of the opportunity of going to the IMF.
“Make use of local experts to support the development of a comprehensive programme that will form the basis of all engagements with the IMF”.
The Association also pledged its readiness to “provide technical backstopping support services to the government to analyze the policy options and develop the programme for effective and efficient engagement with the IMF”.
IMF Meeting
A team from the International Monetary Fund (IMF) is expected to arrive in Ghana on Wednesday, July 6 to begin negotiations with government on the economic support it is seeking.
The IMF officials will meet officials of the Finance Ministry, the Economic Management Team and the Presidency during their stay, according to reports.
After a number of interactions, it’s anticipated that the bailout program’s specifics and its conditions would be made public.
SOURCE: ATLFMNEWS
