A member of the ruling New Patriotic Party (NPP), Gabby Otchere-Darko, has said he is not against the government seeking help from the International Monetary Fund (IMF).
“Am I against an IMF programme in principle? No. I am not for an IMF programme that throws peanuts at us but imposes conditions that will end up hurting the poor, jobs and businesses more" he said in a tweet on Monday.
According to him, “Covid-19 and War in Ukraine are not of Africa’s doing, but more to our doom. A programme that pretends it is all our doing is doomed to fail”
He has further asked government to do something "pretty quickly" to "inject confidence in our capacity to ride this heavy storm"
"Ghana is a member of the IMF. The world is in serious crisis. Ours is not helped by our high debt and low-income levels. With the economy still growing, but investor confidence low, govt being compelled to cut down capital expenditures will eventually lead to job losses unless..." he added.
Reports are rife that the government might seek help from the IMF. Deputy Finance Minister, Dr John Kumah has suggested that IMF might be the only option if the economy does not stabilize with the homegrown policies.
“If it becomes impossible, then it is the only alternative to salvage our economy. But where we are now, we think we are in the position to salvage the economy or to try the homegrown policy we are adopting” he indicated.
However, some communicators of the ruling administration insist there will be no IMF intervention.
Source: Peacefmonline.com
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