{"id":1221258,"date":"2022-10-11T11:24:35","date_gmt":"2022-10-11T11:24:35","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/10\/11\/imf-is-moving-at-snail-pace-in-negotiating-ghanas-programme-economy-being-run-aground-iea-director-of-research\/"},"modified":"2022-10-11T11:24:35","modified_gmt":"2022-10-11T11:24:35","slug":"imf-is-moving-at-snail-pace-in-negotiating-ghanas-programme-economy-being-run-aground-iea-director-of-research","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/10\/11\/imf-is-moving-at-snail-pace-in-negotiating-ghanas-programme-economy-being-run-aground-iea-director-of-research\/","title":{"rendered":"\u201cIMF is moving at snail pace in negotiating Ghana\u2019s programme\u201d; \u201ceconomy being run aground\u201d \u2013 IEA Director of Research \u00a0"},"content":{"rendered":"<p><\/p>\n<p>Dr. John Kwakye<\/p>\n<div id=\"article-text\">\n<p>Director of Research at the Institute of Economic Affairs, Dr. John Kwakye, has expressed worry about the snail pace of negotiation between the government and the International Monetary Fund (IMF) for an economic programme.<\/p>\n<p>According to him, the delay and uncertainty are fuelling speculation and panic in the investor community, causing continued damage to the cedi, describing it as unacceptable.<\/p>\n<p>\u201cThe IMF is moving at a snail pace in negotiating Ghana\u2019s programme, as if nothing is at stake. The delay and uncertainty are fuelling speculation and panic in the investor community, causing continued damage to the cedi. Yet our economic managers stand aloof. This is unacceptable!\u201d he tweeted.<\/p>\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"617\" height=\"194\" src=\"http:\/\/www.ghanamma.com\/wp-content\/uploads\/2022\/10\/K.png\" alt=\"\u201cIMF is moving at snail pace in negotiating Ghana\u2019s programme\u201d; \u201ceconomy being run aground\u201d \u2013 IEA Director of Research \u00a0\" class=\"wp-image-10032185996 lazy\"  data- title=\"\u201cIMF is moving at snail pace in negotiating Ghana\u2019s programme\u201d; \u201ceconomy being run aground\u201d \u2013 IEA Director of Research \u00a0\"\/><\/figure>\n<p>Dr. Kwakye who once worked with the Fund also accused the government as the main beneficiary of the huge cedi depreciation in the form of increased cedi-valued import taxes and oil proceeds.<\/p>\n<p>\u201cGovernment is a major beneficiary of the huge cedi depreciation in the form of increased cedi-valued import taxes and oil proceeds\u201d.<\/p>\n<p>He continued \u201csadly, the economy is being run aground. Government doesn\u2019t have money to meet its obligations. Ghana has one of the highest inflations in the world. The cedi is one of the worst performing currencies. Our debt is rising to pre-HIPC levels. And yet our economic managers stand aloof.\u201d<\/p>\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"583\" height=\"164\" src=\"http:\/\/www.ghanamma.com\/wp-content\/uploads\/2022\/10\/K-2.png\" alt=\"\u201cIMF is moving at snail pace in negotiating Ghana\u2019s programme\u201d; \u201ceconomy being run aground\u201d \u2013 IEA Director of Research \u00a0\" class=\"wp-image-10032185997 lazy\"  data- title=\"\u201cIMF is moving at snail pace in negotiating Ghana\u2019s programme\u201d; \u201ceconomy being run aground\u201d \u2013 IEA Director of Research \u00a0\"\/><\/figure>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Dr. John Kwakye Director of Research at the Institute of Economic Affairs, Dr. John Kwakye, has expressed worry about the snail pace of negotiation between the government and the International Monetary Fund (IMF) for an economic programme. According to him, the delay and uncertainty are fuelling speculation and panic in the investor community, causing continued [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1221260,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[27230,1749,1963,250,3577,3074,5422,27212,2524,2631,6914,2591,17863],"class_list":["post-1221258","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-aground","tag-director","tag-economy","tag-ghanas","tag-iea","tag-imf","tag-moving","tag-negotiating","tag-pace","tag-programme","tag-research","tag-run","tag-snail"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1221258","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1221258"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1221258\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1221258"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1221258"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1221258"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}