The Trades Union Congress (TUC) has commended government for its decision to end the Extended Credit Facility (ECF) programme with the International Monetary Fund (IMF).
TUC's Secretary General, Dr Anthony Yaw Baah, contends the country can develop without following any IMF programme.
The IMF, in 2015, approved a three-year ECF for Ghana under which a total of US$918 million was to be loaned to the country in eight equal tranches as balance of payments support over the period of the programme.
 The Mahama administration then, explained that the facility was to restore debt sustainability and macroeconomic stability, which would foster a return to high growth and job creation, through agriculture and infrastructure investment while protecting social spending.
The current Nana Akufo-Addo government has however announced that it would not continue the bailout programme when it ends in April 2018.
Explaining government's decision, Minister of Finance, Ken Ofori-Atta said there is the need for the country to be able to manage its finances without external conditions.
The decision to end the programme has been greeted with some considerable amount of criticism. Some experts point out that government was in a hurry to end the programme because of the borrowing restrictions attached, and that leaving the programme will encourage excessive spending and borrowing.
But speaking at a parade at the Black Star Square on Monday, organised to mark this year's May Day Celebrations, the TUC Secretary-General expressed his support for government's decision.
Dr Baah further pledged the TUC's support for government to achieve a faster economic growth.
This year's celebrations which coincides with Ghana's 60th Anniversary Celebrations was under the theme "Ghana @ 60: Mobilising for Ghana's future through the creation of decent jobs".
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