Gabby Otchere-Darko, a member of the governing New Patriotic Party (NPP), has stated that he is not opposed to the administration requesting assistance from the International Monetary Fund (IMF).
“Am I inherently opposed to an IMF program? No. In a tweet on Monday, he stated, “I am not for an IMF programme that offers us peanuts but imposes restrictions that will ultimately affect the poor, employment, and businesses more.
He claimed that “Covid-19 and the War in Ukraine are not the fault of Africa, but rather more to our destruction. A program that acts as though it is entirely our fault is doomed to fail.
In order to “inject confidence in our ability to weather this huge storm,” he has further urged the administration to act “quite soon.”
“Ghana belongs to the IMF. The state of the globe is critical. Our enormous debt and low-income levels do not assist our situation. If the government is forced to reduce capital expenditures because the economy is still expanding but investor confidence is low, this would eventually result in job losses, the speaker continued.
There are several rumours that the government may ask the IMF for assistance. Dr John Kumah, the deputy finance minister, has suggested that if domestic efforts are unable to stabilize the economy, the IMF may be the only alternative.
It is the only option left if it becomes impossible to save our economy. But given where we are right now, we believe we are in a good position to either pursue our own policies or to save the economy, he said.
Source: Mybrytnewsroom.com/Joseph Asare
