Is IMF Exit Really An Exit

“The authorities deserve praise for strengthening the banking sector and for resolving nine banks, Completing the financial sector clean-up, as planned, will support the provision of adequate and affordable credit to the economy,” the Board of IMF stated.

The Country some time past had no choice but to run to the IMF for the ECF like an antelope that had sighted an oncoming lion. This was a testament that the managers of the economy at that time had tried everything possible to avoid the disgrace of telling the IMF that “please come with your cane and chalk and teach us how to manage our own economic affairs”.

Going to IMF made nonsense of our first President’s famous declaration that the black man was capable of managing his own affairs and makes us the laughing stock in the sight of countries that in the early stages of their development had to come to Nkrumah’s Ghana for financial assistance.

“Ghana is currently faced with a sovereign debt crisis, rising interest costs, policy slippages and external shocks which have dampened the country’s medium-term prospects and the sacrifices the IMF wants Ghana to make have put the government’s credibility on the line” from Ghana web general news of 24th April 2015. This meant that the managers of the Ama Ghana had thrown their hand in despair, all efforts to paddle the canoe to the shore proved unsurmountable. In Chennu Achebe’s own words “things have fallen apart and the center can no longer hold".

Then from the white man’s land in Washington DC, at the GE-Economist event as part of the U.S –African Leaders ‘Summit in April 2015, a man in beautiful African print seated at the far corner in the room rose up and walked majestically to the podium like a village hunter who had just gifted his girlfriend’s mother a deer and was walking back to his house.

This man also known as Edee beeeeee stated that the decision to open discussion with the IMF was not because of the failure of the government’s own home grown solutions but rather because of the need for policy credibility and confidence from the international financial institutions, capital markets and investors.

What eroded the investor confidence and policy credibility, Mr. Boosu Keena? Whose duty was it to assembly the best brains to manage the economy? Who chewed the bone and even had no mercy for the marrow, Mr. JDM? There is no justification for taking us to the International world for the ridicule because we paid you and your Ministers elephant size salaries to think and give us solutions but not excuses to justify incompetence.

Power has changed hands, edee beee has seen his smooooothness level, now the NPP government that had in the past chastised the Mahama government for putting Ghana under the IMF programme and promised to kick the programme out after it elapse in 2018 had to tell Ghanaians a different story.

IMF says Ghana has underperformed and would miss its objectives for going for the facility hence the only way to be back on track is an extension. This was not the news majority of unemployed graduates wanted to hear, this was certainly not the news Ghanaians wanted to wake up to.

Government was not enthused about this news yet there was no choice than to extend the facility. This meant that sacrifices would have to be made, belts would have to be tightened. Hopes were dashed, expectations were not met, Labour unions started murmuring, the major opposition party that tattered the nation to the IMF like a sheep to the slaughter house suddenly found their voices.

Indeed, uneasy lies the head that wears the crown so they say in Africa. The Economic Management Team led by Dr. Muhamadu Bawumia made it clear to Ghanaians that we will come out of this servitude. Ghana will be managed by Ghanaians not IMF. Ken Ofori-Atta and his indefatigable team at the Finance Ministry put the right measures in place so that by the April deadline, Ghana will secure its sovereign freedom from IMF.

After putting the right structures in place, this is what the IMF Board had to say “The fund congratulates the Authorities for successfully completing the ECF supported program and stands ready to support Ghana in its quest for economic prosperity”.

This tells us that nothing is impossible to achieve if we commit our all to it. Ghana our beloved country is free forever. This is reminiscent of the colonial days leading to 6th March 1957, the euphoria, the pride in knowing that no external party is lurking around, breathing on your neck and ready to pounce on you the very second you veer off the track of economic administration.

The government is happy, Ministers and party communicators are all over the place trumpeting our successful exit from the fund. Must we make merry about our exit? What is there to celebrate about it? This is the time to reflect deeply on why the past administration went to IMF, what lessons to acquire from it and work industriously so we can borrow the words of the Jews “NEVER AGAIN” would any government take us back.

The current government still has the goodwill of the people but must be told in plain language that they need to up their game in the area of monitoring and supervision of policies, programmes and projects. Accra is engulfed in filth, heads must roll. People make mockery of the President’s vision of making Accra the cleanest city in Africa by 2020. Whose duty is it to ensure that we raid the city of filth? What challenges do such institutions tasked to clean the city face? Have they made their concerns known to the appropriate authorities? Ghanaians are wide awake and will vote on what you promise us not because we love you. "NA LOVE GO PAY OUR HOSPITAL BILLS”.

Government must understand that they are given four years to prove their worth to us the electorates before we can entrust them with another term. If there are changes to be made, if there are Ministers to be sacked, if there are things to do, Addo show boy please don’t wait till 2020.

Most of your MDCEs are seriously underperforming, fighting with constituency executives on daily basis and no one talking. Most MPs and MDCEs in your party are now human version of the legendary Tom and Jerry cartoons causing apathy for your party.

Many party communicators are bitter and the most dangerous thing is walking with a friend who has his own plans about you. A stitch in time saves nine so let us do the work of the one who sent us whiles it is day, night is coming when no man can work.

Whiles we make merry and deservedly put the likes of Adongo in their proper place, let us also remember that Ghana is not all about Accra and IMF exit, this is more to it that than this. The bigger picture is maintaining the goodwill of Ghanaians and ensuring that government communication machinery at the grass root is well oiled to explain the big big grammar into simple language for my grandmother at Edwinase Atimatim to understand. How can the market woman at Bosofour in Asante Mampong make meaning of the Eurobond success, what impact does the appreciation of the cedi against the major currencies have on the waahye seller at Saabo zongo? These are but a few of the job of Government communicators. I repeat, a stitch in time saves nine.

It is time exit police brutalities, time to exit bribery and corruption, time to exit open defecation, exit underperforming ministers, time to exit political vigilantism. God bless our homeland Ghana.

  

 

 

 

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