Ghana has formally requested the International Monetary Fund to support its economic program.
It follows a telephone conversation between President Akufo-Addo and IMF Managing Director Kristalian Georgieva conveying Ghana's decision to apply for the support fund.
A statement issued in Accra on Friday 1st July, 2022 and signed by Information Minister Kojo Oppong Nkrumah said, "the engagement with the IMF will seek to provide a balance of payment support as part of a broader effort to quicken Ghana's build back in the face of challenges induced by the Covid-19 pandemic and recently, the Russia-Ukraine crises."
Ghana is a member of the IMF and recently received 1 Billion dollars for its Covid-19 response program.
The government expects the IMF support to boost the funding sources needed to execute its economic program.
It is expected that capital markets and friendly sovereign countries may also contribute to the program.
Source: King Edward Ambrose Washman Addo/peacefmonline.com/ghana
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What a double agony, the only president of Ghana who not only failed his country but miserably failed the very party that brought him to power as well. Under John Mahama NPP youth/ supporters who had cars/ pickups could buy fuel on their own to meet Akuffo Addo several kilometers away from town when he was on his campaign tours. Today they have all parked their cars because they can't afford to buy fuel. To add insult to injury those NPP supporters who were lucky to get projects i.e. Roads( pot hole patching/ reshaping) one million dollars per constituency projects, school feeding caterers having used their monies to to undertake these projects are regreting because for over 3 years they haven't been paid. I pity my friends in the NPP . Such is life, there is something you like too much which will never benefit you, there is something you hate too much but which has a lot of benefits for you. Parties in Ghana mostly fail the country but at least benefit party members small, but this particular NPP has failed both mother and father. Mahama with all his flaws looked better. I don't doubt it if you put Mahama and akuffo Addo on the ballot paper today, Mahama can get 80% . This NPP is a direct opposite of the Kufuor one.
Nana Addo, please listen to me well. Don't try to go IMF to disgrace yourself and Your vice. Take these tough measures rather. .1 cancel Nabco and YEA programs immediately. 2. Reduce the salaries of all MPS, ministers, government appointees by 40%. 3. Everybody, including the president must pay taxes 4. Cancel school feeding and capitation grants. The nation must take only school fees whilst the parents provide their wards food. 5. Convert nurses and teacher training allowances to interest free loans payable in 5 years. 6. Bring spot fine for road expenses and the mode of payment should be a direct debit to the master card specifically designed for motor and car drivers. 7. Reduce import duties by 50% to bring the galloping price increases in goods down. When people are able to buy, sellers profit and VAT will increase and the lost revenue at port will be recouped. 8. Don't initiative any new capital expenditure. Try to complete the ongoing ones for the rest of this year. 9. Register all containers and stores and issue them master cards and make them pay directly to government account. Don't let the Assemblies do. 10. Cancel the law that allows soul sourcing, fight corruption ruthlessly and retrieve all stollen monies by past and present state or public sector appointees. 11. Bring E-levy rate to 0.75% and make all transactions taxable except from merchant to merchant. The first 100 cedis tax free should be cancelled as the rate is reduced to widen the tax net. 12. Bring back road tolls but this time the collection should be by automated machines. Please peacefmonline give this message to the president and his vice for me.
Oh, innocent Ghanaians being sent to the slaughter. IMF , here we come. A 2017 brand new elephant with very big ears , unfortunately it doesn't listen. At best it hears but won't listen. If there is one person Ghanaians had a lot of confidence and trust in, it was Akuffo Addo, unfortunately he has squandered a golden opportunity to have made history. In this era of ICT, whatever you say today will be played back tomorrow fiili, fiili for you to hear. Now Ghana's so called politicians will watch their words when speaking, if you play back things that were said from 2008 to 2021 by these people and what we are seeing now, you will weep. This was the man who said Ghanaians have lost trust in politicians and that we should try him. We trusted him, infact people sacrificed in diverse ways just to ensure that he takes the steering wheel. Now the driver is sending us to the slaughter. What is our crime? Under NDC Ghanaians were put into a frying pan too hot to contain, now the people of Ghana have fallen into the fire proper. Can you imagine spitting saliva and going back to pick and swallow same? The amazing thing is that those who have ideas don't have power, those with power have no idea at all. Incompetent Mahama will be laughing hahahaaaa, Hear him ' none of you guys have never held any responsibility near the presidency before, you don't know what it is like to be president'. It's like John Mahama has been vindicated. Now if you are NPP you sit with friends and when they are talking you only listen, you can't talk again, they will playback videos and silence you. Dogs don't kick, they bite. When you see a dog kicking , don't doubt it, it has lost the game. The king of the jungle has become prey himself, how will one insist on a tax that can easily be avoided. I worked to buy a mobile phone, a worked to buy a SIM card and worked to earn money, you never assisted me in any of this, now I want to send something to my old lady in my village, you say you will tax it, I said no, Chinchinaa you insist, I said okay, fine, go ahead. if I don't send money through momo again can you take E-levy? It's that simple. You have forced the horse to the river side, now force it to drink water, you can't . Where is your ' chinchinaaa' again. Ghanaians thought this NPP will be like the Kufuor one thus the overwhelming support they received in 2016 only for it to turn out to be the direct opposite. Sad.
NDC / NPP leadership/ politicians are now comedians entertaining the people of Ghana. Only a few days ago the finance minister, i.e. 'We are excited over E-levy, IMF gone', an NPP member of parliament said we are not going to IMF today or tomorrow as long as NPP is in power, the so called solid economic management team has fizzled out. Bawumia said IMF is was avoidable if the NDC had listened to sound advice( See Bawumia condemns NDC for going to IMF, Akuffo Addo himself said we won't go to IMF only to make a U turn now directing the finance minister to engage the IMF. So question, what figures were on the table for these people to tell us that IMF was not on the table. The NDC/ NPP leadership should and must know that there are more intelligent Ghanaians outside there. If the presidency , ministerial position, CEO and MP were by examinations , not one of them will be sitting in their current positions, not one. Currently nobody takes any politician in Ghana seriously, they have all become conmen, they never practice what they preach. I they know people laugh at them on seeing them, they will hide their faces from the public, we see in them liars, crooks, conmen, fraudsters, cheap people, representatives of themselves not the people, two twins who all agree they are th----v ves, the debate is who st---ls more than the other. Ghana is in trouble in the hands of two twin comedians, NDC / NPP . Ghana can be likened to a very rich father who died leaving a lot of properties, unfortunately his son is a drug addict, having sold all the properties at rediclous prices, he now selling his father's only farm ( forest). Ghana is at crossroads. The orphan (NDC) is not laughing, the one who's father is in the kitchen(NPP) is not laughing too. The orphan can console himself because his father is no more, what about the one who's father is alive and in the kitchen.
Any intuition whose expenditure more than it earnings is banned to fail .A country whose Tax is half spend on the president and people around him. We spend more on servicing than producing. Some monies are shared among top party members in boxes and "Ghana must go". Some cartel in government sectors also spend budgeted money for themselves and perform shabby works . A lot of gov. sectors do not work for profit .Gov. continuous to waste money by abandon projects and cancellation of contract which attract judgement debt . There must some reforms in our laws and policies to prevent these wastes , The Police and judiciary should be independent so they can work without fear or favor. IGP must be selected by the high ranks of the Police and so must done to the Judgers . All Gov . firms CEO's( Qualified ) should be hired and be monitored by a body .They should be paid by KPI system .Ministers travelling outside the country should handle their own fares . People caught is corrupts practice should be made to pay three times or the their properties sold .The party members that come between the gov. institution should be stopped .Ex gratia of the leaders should be taken once . Gov. officials(hidden) taken contracts and given it to third parties should be arrested . Nationality should be our hall mark.
This can't be true, NPP/Akuffo Addo running to IMF. What a solid economic management team. What a solid president with the best ministers in the world. Mahama went to IMF because he was Incompetent, Akuffo Addo is going to IMF not because he's incompetent but because the overall boss at the IMF is his close friend. But why won't akuffo Addo go himself but decide to send Ken? Mahama is having the best laugh ever. Akuffo Addo makes Mahama look like a saint. Infact between the 2 it's like Mahama is ahead of akuffo Addo in all aspects of governance, at least John Mahama was on top of every issue in his government. I doubt whether Umofiahene knows what's happening in flagstaff house not to talk of Ghana . If you are on top of issues your road minister will not unilaterally suspend road tolls as if he appointed himself. The king is naked
Clearly, without a doubt, nana addo's government is the most use.less ever, considering the fact that they painted so much pictures that mahama was so incompetent and claimed they had the men. Today, they've messed the economy and run to the same institutions the accused the NDC of relying so much on. We are just waiting for what they would say to justify going to IMF when they had said going to IMF means imposition of conditions.