How things stand Ghana likely to go back to the IMF – Economist

How things stand Ghana likely to go back to the IMF – Economist

Ghana is likely to return to the International Monetary Fund (IMF) for support, an economist, Dr Adu Sarkodie has said.

He says if this finally happens, it will affect some of government’s programmes such as the free Senior High School, Nation Builders Corps (NABCO) and others.

“We are likely to go back to the IMF. I don’t like it when we go there because of the conditionality. They may ask us to cancel Free SHS, NABCO, and all that but this is the time we need all these social interventions,” Dr Adu Sarkodie told.

The Finance Minister, Ken Ofori-Atta, recently insisted that Ghana would not go back to the IMF for support.

In his view, the government has put in place measures including salary cuts and others, and also programmes to deal with the fundamental issues affecting the economy.

Mr Ofori-Atta said these when he was asked by expatriate journalist whether Ghana would consider going back to the IMF, at a press conference in Accra on Thursday May 12.

He said while answering the question that “All the white folks are just interested in us coming in the IMF programme. I always wonder why.”

“We are members of the fund; there are two major points of interventions that we have from the fund. One being the advise that we get because of the phenomenal expertise that the fund has and then secondly, these programme interventions which bring us some resources.

“I think, if you see from the budget that we constructed for 2022 and the subsequent announcement that we have done, clearly, the issue of Ghana having the capacity to think through the consolidation exercise exist. Also discipline itself with regards to the 20 per cent, etc, that we have shown clearly.”

He further indicated that “We have committed to not going back to the fund because in terms of the interventions and policy we are right there, the fund knows that we are completely in the right direction. The issue is, validating the programmes that we have put in place and then, in my view, supporting us to find alternative ways of financing or re-financing our debt, reprofiling it.”

The Finance Minister, Ken Ofori-Atta, recently insisted that Ghana would not go back to the IMF for support.

In his view, the government has put in place measures including salary cuts and others, and also programmes to deal with the fundamental issues affecting the economy.

Mr Ofori-Atta said these when he was asked by expatriate journalist whether Ghana would consider going back to the IMF, at a press conference in Accra on Thursday May 12.

He said while answering the question that “All the white folks are just interested in us coming in the IMF programme. I always wonder why.”

“We are members of the fund; there are two major points of interventions that we have from the fund. One being the advise that we get because of the phenomenal expertise that the fund has and then secondly, these programme interventions which bring us some resources.

“I think, if you see from the budget that we constructed for 2022 and the subsequent announcement that we have done, clearly, the issue of Ghana having the capacity to think through the consolidation exercise exist. Also discipline itself with regards to the 20 per cent, etc, that we have shown clearly.”

He further indicated that “We have committed to not going back to the fund because in terms of the interventions and policy we are right there, the fund knows that we are completely in the right direction. The issue is, validating the programmes that we have put in place and then, in my view, supporting us to find alternative ways of financing or re-financing our debt, reprofiling it.”

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