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Friday, August 19, 2022

Why Kweku Baako was disappointed when govt announced IMF bailout

The Editor-in-Chief of the New Crusading Guide Newspaper, Abdul Malik Kweku Baako, has expressed his disappointment in the government’s decision to opt for an IMF programme.

The renowned media practitioner says the move does not make one proud to be a Ghanaian. 

Although he admits it is the right of the government to do so, he felt very disappointed when he heard the news. 

“I’ve always had difficulties with the IMF and let me the honest with you; while it is the right of the government to opt for that, I felt disappointed. I remember in 2015, I felt the same way even though I publicly said it was the right of the government to go for it but regrettable same with 2009.”

According to Mr Baako, he always gets that feeling anytime previous governments went to the Bretton Woods’ institution.

He added that the country appears to be repeating the same mistakes every time it takes a programme from the Fund.

“So, it is not good enough and we cannot continue going in circles and each time we take a programme, we appear to have succeeded in implementing the programme and within three to four years, we are back to square one, it doesn’t make sense. It doesn’t make you a proud Ghanaian,” he said on Metro TV on Thursday, July 7.

Government has already commenced negotiations with officials of the Fund.

The Fund’s officials are led by the Mission Chief for Ghana, Carlo Sdralevich as the fate of Ghana’s financial future is tabled for discussion amid hue and cry from the public over the ever-increasing cost of living.

The Finance Ministry earlier revealed that the engagement will be a seven-day activity with the IMF officials, government’s Economic Management Team and the Presidency.

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