The International Monetary Fund (IMF) has urged the ruling government to pay critical attention to issues likely to put the country in a situation that might require another bailout programme from the Bretton Woods' institution.
The Resident Representative of the IMF in Ghana, Dr Albert Touna Mama, says the high risk of debt distress, weak domestic revenue mobilisation, off-budget transactions and a high level of fiscal risk from the energy sector are issues that could erode the gains in stabilising the economy.
At a roundtable workshop held last week, he said "those were major foundations that the government needed to get right, since they constituted the very reasons for which Ghana kept on running back" to the IMF for a bailout.
A few months ago, specifically in May 2019, the IMF and the World Bank classified Ghana as a high-risk debt distress country saying the country's debt-to-GDP ratio, debt service ratio and debt-to-export ratio breached required limits; just a step shy of being plunging into an economic abyss.
Managing Editor of the Insight newspaper, Kwesi Pratt Jnr., sharing his thoughts on this during a panel discussion on Peace FM's morning show 'Kokrokoo', Tuesday, said "seeking assistance from the IMF is not wrong in itself, but the kind of conditionalities one agrees to under the IMF is the problem".
Below is a video of what he told the ruling government
Source: Rebecca Addo Tetteh/Peacefmonline.com/[email protected]
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The worst of Nana Addo government is thousand times better than the CREATE LOOT and SHARE GOVERNANCE of the ndc. How can you get kicked out of government and one month before you hand over power to the incoming administration, you sign up numerous dubious contracts and appointments knowing very well that you've chewed all the meat and left with bones. Where was this Pratt and co.when things were going wrong in the past ndc administration and had to run to the IMF.
So the doomsayers are happy eh. We shall overcome this challenge and move forward because the battle is still l the Lord's. We will not go back to the dreadful IMF. God forbid!!!
Thank you so much @Efo Mawuli and @Maame. If you say the truth they label you as NDC. God save Ghana
If we could be honest to ourselves as people, we will realise that the Nana Addo gvm't has actually done nothing to improve the economy in any way. All we have had as GAINS within the last two years were projections made by the world bank and the IMF and all the major rating institutions considering the kind of work done by the JDM administration. The past few months after we exited the IMF, it's been difficult to come with new ideas other than the footprint JM left which has since expired. Look, they don't have the men but the funny thing is there are men in GH who can do better but all boils down to family and friends and not who really can liberate us. It will get worse unless the president starts to deal with his appointees who are just stealing and misbehaving. the president has to get serious and stop the plenty talk. It's my opinion.
Reconsider the FREE SHS for the following reasons:- 1. Ghana has so many social challenges including sanitation, good drinking water, unmotorable roads, poor educational and health infrastructure. 2. Majority of Ghanaians saw secondary education as their responsibility towards their own children. The rate of increases was their problem. 3. Free SHS is not a priority for the majority as against job opportunities after school. 4. Free SHS requires huge capital investment from tax revenue from the same Ghanaians. 5. The concept, though laudable has stalled other important areas of the economy that require maximum attention. 2.