Ken Ofori-Atta shoots down IMF bailout program
Economist paints gloomy picture for Ghana as Cedi depreciate, fuel prices increase
The Minority caucus in Parliament has stated that the country under the Akufo-Addo led administration has no option but to return to the International Monetary Fund (IMF) for a bailout programme.
According to the MPs, the economy is in a bad shape, especially with its debt level and the depreciating Cedi, and it is incumbent on the government to seek the bailout.
In an interview on Joy News programme ‘The Pulse’ on March 17, Ranking Member on Parliament’s Finance Committee, Dr. Cassiel Ato Forson said it behoves [on] the President, Nana Addo Dankwa Akufo-Addo to decide on the interest of the country.
He argued that "where the country is heading towards, clearly, it looks like we are going to have an accident on the way.”
“My message to His Excellency the President of the Republic is for him to take decisions that is right and will preserve the bright future of our country.
“Our country is obviously in a big mess. It is for the President to take a decision that will be in the interest of the country.
“I acknowledge that it will come with some conditionalities but it is worthwhile because the tradeoff will mean that in the course of the year, Ghana may end up limping to the IMF in an ambulance and if care is not taken, that will spark social tension,” Dr. Ato Forson said.
Meanwhile, the President, Nana Addo Dankwa Akufo-Addo, is chairing a crunch cabinet meeting from Thursday, March 17, to Sunday, March 20, 2022, at Peduase Lodge.
The meeting is to decide on whether the government should continue banking its hopes on the E-Levy or resort to the IMF for a bailout.
Dr. Cassiel Ato Forson