No one can stop govt from seeking IMF bailout – Prof Agyekum

Senior lecturer at the Department of Linguistics, University of Ghana Legon Professor Kofi Agyekum has said it is impossible for the government to change its mind from seeking help from the International Monetary Fund (IMF) no matter what anyone says.

Speaking Tuesday, on ‘Kokrokoo on Peace FM, Prof. Agyekum stated, no amount of criticism can change the position of government once the decision has been reached.

President John Mahama after a meeting with his Economic Advisory Committee directed that immediate initiatives be taken to open discussions with the IMF and other Developmental Partners in support of the country’s programme for stabilization and growth.

This follows the president’s earlier decision to focus on using homegrown solutions to deal with economic challenges facing the country.

Critics have said the decision by government to seek bailout from the IMF is an indicating factor of the worsening economic conditions in the country and bemoaned refusal by the John Mahama – led administration to admit to its failure to govern the country.

An Academic Dr. Lloyd Amoah has said the decision by government means the country is “going back to ground zero”.

However, the Professor said, if seeking help from the IMF is the only way to solve the country’s economic crisis, then he sees no reason why the government should not go that way.

Blaming the country’s current predicament on government and previous government’s failure to put in place progressive future policies and programmes, he advised that government’s when voted into power must ensure that promises made in their manifestos are followed through and fulfilled.

He also advised that monies that will be received from the IMF through the bailout should be used for projects that will be beneficial to the people of the country, adding that policies should be put in place to ensure that the current situation facing the country will not be repeated.

Ghanaians he said, must cultivate the habit of purchasing made in Ghana goods rather than always relying on imported goods.