The Member of Parliament for Effutu Alexander Afenyo-Markin says that there is a difference between the current government seeking help from the International Monetary Fund (IMF) and that of the erstwhile National Democratic Congress (NDC) administration.
He said these after the Minority taunted the government with IMF while the Minister of Food and Agriculture Dr Owusu Afriyie Akoto was answering questions in the House.
“This candid decision by government through a statement by the Minister of Information, it is as though they don’t know about IMF, you have been to IMF when you were not confronted by an international crisis, you went to IMF because of mismanagement. Why are you now telling us that we are going to IMF? “he said.
“Mr Speaker, when they were in government there were no international crisis yet they went to IMF.”
Earlier today, President Nana Addo Dankwa Akufo-Addo instructed the Finance Minister to engage the IMF for a financial bailout.
In a statement signed by Information Minister, Kojo Oppong Nkrumah, President Akufo-Addo had a telephone conversation with the IMF Managing Director, Miss Kristalina Georgieva, conveying Ghana’s decision to engage with the Fund.
Ghana runs to IMF seeking for monetary assistance 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, according to the statement from the presidency.
This is the second time Ghana is seeking support from the Bretton Wood institution in seven years after the country engaged them in 2015 under the erstwhile John Dramani Mahama’s government.
In February 2022, the Finance Minister, Ken Ofori Atta, said Ghana will not return to the IMF for a bailout despite the mounting economic challenges.
According to him, Ghana is a nation of pride and will seek solutions to the current financial challenges it is facing within.
“I can say we are not going to the IMF. Whatever we do, we are not. Consequences are dire, we are a proud nation, we have the resources, we have the capacity. We are not people of short sight, but we have to move on.
“So let’s think of who we are as a strong proud people, the shining star of Africa, and we have the capacity to do whatever we want to do if we speak one language and ensure that we share the burden in the issues ahead,” Mr Ofori-Atta told a gathering at the E-Levy town hall meeting in the Northern Regional Capital of Tamale.
Source: Dailymailghana
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It's so unfortunate. As a people, we prefer to willingly su ject ourselves to the rule of IMF. Modern day colonialism.. just that this time, we initiated this as a people. Why could we not have funded this through E-Levy?Instead, Ghanaians in their found ways of avoiding the tax. Well, the result is that we are at IMF. So it will be shared by the IMF for us to.pay with interest..
FUNNY ENOUGH
I think the government was spending so much on projects and other unnecessary things even within covid and less tax generation all because they want to win another election. IMF should never be an option.
Josh@ are you still talking? Smh! Tell Hon. Afenyo-Markin to deal with NPP’s failure in government rather than compare to NDC. NPP made a louder noise that Mahama was incompetent, ***barred word*** and so on but you are coming to make life better for Ghanaians. What have you done so far for almost six years in office? Never try to find excuses in Covid-19 and Russia/Ukraine war because those African countries who have done proper work are not hard hit. Go to Kenya, Rwanda, Botswana, etc and find out. You have been talking big for almost 6 years without doing anything. NPP government was reaping the benefits of NDC’s policies from 2017 to 2019 without doing anything. They just borrow from outside and share among party functionaries. Grab state assets and register in their names. You have been exposed big time by lying to Ghanaians. Massaging figures to your advantage by rebasing statistical data. Have you seen your end? Afenyo-Markin you always talking big as if you’re wiser than all Ghanaians. Now you have messed the economy so fix it. We’re not interested in knowing what caused it because we already know. We want solutions. Government officials are paid to work for the state so don’t try and play politics. You are paid with taxpayers money for you to work so if you have run out of ideas just resign and let technocrats do the work because politicians have no solutions. Above all, the government must sack all the ‘dead woods’.
GHANAIANS WITH NDC LOOOOOO SERS REFUSED TO PAY E-LEVY USE LESSSSS WHOSE FAULT IS IT THIS IS ONE BITTER PILL FOR EVERYONE. INESCAPABLE IMF PROGRAMME SO ENDUOW IT. HOW WOULD LEAVE FOR FREE AND YET YOU WANT YOUR ROAD TO BEFIXED, YOU GO TO HOSPITAL FOR FREE, GO TO SCHOOL FOR FREE, AND HAVE OTHER INFRASTRUCTURES FOR FREE. THAT IS WHY I LEFT 40YRS AGO AND AM NOT COMING BACK INTO THAT SHI T MENTALI TY OF NDC MONK EYS SOCIETY. GHANAIANS ARE JOKERS NO COUNTRY BORROWED TO FUND THEIR INFRASTRUCTURE PROJECTS IS ONLY A COUNTRY THAT IS SICK. ALLOW PEOPLE TO PAY TAXES NOT TO LEAVE FOR FREE, A COUNTRY LIKE RUSSIA, USA, CANADA, AUSTRALIA, AND OTHER MIDDLE INCOME COUNTRIES DO NOT BORROWED TO FUND THEIR INFRASTRUCTURE PROJECTS, PAY GOVERNMENT WORKERS PURE ***barred word***. NO COUNTRY WANT THEIR CAKE AND EAT IT TOO. NO FREE LUNCH ANYWHERE IN THE WORLD. IF YOU DON'T WANT TO PAY TAXES TO FUND YOUR ROADS USE YOUR MOUTH TO PAVE YOUR ROADS. TAKE A LOOK AT THE GHANA CEDI, ANYTIME BANK OF GHANA SELLS DOLLARS GUTA AND THEIR PEOPLE GET A CHUNK OF IT TO IMPORT ALL KINDS OF sh*t INTO THE COUNTRY INSTEAD FORCUSING ON THE COUNTRY'S LOCAL FOOD PRODUCTION THAT IS WHAT IS KILLING THE CEDI TO BE THE WORST PERFORMING CURRENCY INTHE WORLD. GHANAIANS SHOULD TELL THE WORLD WHAT VALUE ADDED PRODUCTS DO GHANA EXPORTS TO EARN FOREIGN EXCHANGE TO SHORE UP THE CEDIS GHANA ONLY EXPORT RAW MATERIALS WHICH DOESN'T GET NOTHING MUCH. SO WE NEED TO EXPORT MUCH ADDED VALU TO GAIN FOREIGN EXCHANGE TO SHORE UP THE LOCAL CURRENCY AND THAT IS WHAT PRESIDENT NANA ADDO TRYING TO DO BY ONE DISTRICT ONE FACTORY. TO CHANGE THE PARADIM SHIFT TO GET MORE FOREIGN EXCHANGE TO HELP THE CEDI. CHINA DO NOT DO PASANT FARMING TO FEED 1.4 BILLION POPULATION AND HAVE FOOD SECURITY WITH SYLLOS FULL OF RICE, MAIZE, WHEAT, SOYABEANS BUT COMMERCIAL IRRIGATED FARMING. E-LEVY WAS CHEAPER THAN IMF, IMF PITTER PILL WE ALL SWALLOW IT TOGETHER IS INESCAPEABLE LIKE E-LEVY.