The New Patriotic Party (NPP) Member of Parliament (MP) for Bimbilla and Minister of Defense, Dominic Aduna Bingab Nitiwul, has been dismissive of calls to downsize \u2013 trim down the government to save cost. <\/p>\n
<\/p>\n
The Minister does not see how reducing the number of government\u2019s appointees is going help save so much money to turn the economy around. <\/p>\n
Cutting down the number of appointees, he adds, would not lead to any significant reduction of government\u2019s spending. <\/p>\n
It is never the solution to the problems with the economy \u2013 it is a road to nowhere. <\/p>\n
The government has now gone to the International Monetary Fund (IMF), a decision President Nana Addo Dankwa Akufo-Addo says is meant to \u201cto repair our public finances, which have taken a severe hit\u201d, whilst his government continues to work on the medium to long-term structural changes to build a more resilient and robust economy. <\/p>\n
Ken Ofori-Atta, the Finance Minister, is leading the government\u2019s negotiations with the Fund. The government is expecting to get support of US$2 billion from the IMF. <\/p>\n
Added to that, is going to be the country\u2019s access to the international financial market, to raise money to support critical infrastructure development. <\/p>\n
<\/p>\n
Ghana\u2019s pre-COVID-19 pandemic economy was doing very well, was touted as one of the fastest growing economies in the world and received high ratings from the international rating agencies. <\/p>\n
Organized labor has slammed the government\u2019s decision to run to the IMF for a bailout, casting the decision as \u201ca tragic mistake and a sad one for Ghana\u201d. <\/p>\n
Dr. Anthony Yaw Baah, Secretary General of the Trade Union Congress (TUC) said going to the IMF was wrong and not the right thing to do. <\/p>\n
The country\u2019s history of engagements with the Bretton Wood Institution, he noted, provides enough evidence to show that IMF-sponsored programmes are never a panacea to the country\u2019s economic circumstances.<\/p>\n
<\/p>\n
Content created and supplied by: KyeretwienanaOseiBonsu (via Opera
\nNews )<\/p>\n<\/article>\n
\n , . , . () , , , , , , , , . \/ , and\/or . , , and\/or , and\/or <\/span>
\n<\/span>\n<\/p>\n