In his submission, Mr. Kwesi Pratt Junior pointed out that, he is not in favor of using GDP and other macroeconomic indicators as a yardstick for measuring the performance of an economy. He maintained that the best way to access an economy is how it reflects in the pockets of the citizens. Mr. Kwesi Pratt Junior also indicated that he does not support going in for an International Monterey Fund bailout since the conditions of the IMF have had negative repercussions on the economies of many countries in the world.Â
He revealed that he was sent to prison for making these same comments in time past. According to him, his opinion that economic indicators such as Gross Domestic Products, Per Capita Income among others do not reflect the reality on the ground and how World Bank and IMF prescriptions have worsened the poverty level of our people sent him to prison.
“Look, I went to prison for six months for making the points I am making today about how all these figures about Per Capita Income, Gross Domestic Products, and so on do not reflect our reality. And how World Bank, IMF prescription have exacerbated the poverty of our people and so on, I went to prison for that”, he said.
Mr. Kwesi Pratt Junior further stressed that going to the International Monterey Fund for a bailout is not the only indication that a country’s economy is distressed. He explained that there are countries that do not go to the IMF through their economy is facing severe stress.Â
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