Policy Analyst of People’s National Convention (PNC) Atik Mohammed has said, the International Monetary Fund (IMF) cannot solve the economic woes of the country but will only put the country in more difficult positions.
“Ghana will be in a worse situation after the IMF bailout” adding that the money IMF will give to the country will not be enough to solve economic problems it is grappling with.
Speaking on Peace FMs morning show ‘Kokrokoo’ Mr. Atik said governments’ decision to seek bailout from the IMF is only a camouflage to cover the harsh economic policies it wants to introduce into the country and because it does not want to be blamed, it decided to use the IMF as an excuse.
“Government fears the reaction of the public”.
Government has announced plans to resort to the IMF for support in its bid to turn the economic fortunes of the country around.
The decision has received several mixed reactions from both the general public and economists alike. While others have kicked against the decision others have hailed it saying it was the only appropriate way to save the country from current economic conditions.
Speaking on Joy News, a former Finance Minister under the John Kufuor aera, Anthony Akoto-Osei commended government for the move but said it will come with serious precautions.
However, Atik Mohammed said it would have been prudent if the government asked for technical assistance instead of monetary where the IMF will send experts to help the country develop and implement its own home grown policies.
The current decision by the government he says, will hit hard on private businesses and directly affect the lives of Ghanaians who are genuinely trying to make a living.
Economic growth will reduce, public sector workers will lose their jobs, cost of energy will be high and living conditions will be unbearable, he emphasized.
This article has 0 comment, leave your comment.