Veteran journalist, Kwesi Pratt Jnr, has bemoaned the government’s decision to go for an International Monetary Fund (IMF) bailout.
He indicated that Ghana has previously gone into several IMF programmes but that did not result in a drastic change to the country’s economy.
In a TV 3 interview monitored by GhanaWeb, Pratt added that what Ghana needs is a restructuring of its economy and not an IMF programme.
“We have gone to the IMF many times, it didn’t change our destiny, it didn’t our situation. The more we went to the IMF the more problems we had.
“We were with the IMF in 1993 (for the Economic Recovery Programme and later the Structural Adjustment Programme). The result was that there was massive privatisation of state enterprises and retrenchment of labour which led to the loss of 300,000 jobs workers … and increased poverty.
“… since the very first time we went to the IMF and now the national currency has devalued by more than 38,000 percent - that is not the way to go. What is happening is a collapse of a system, (it) is a failure of the new liberal system and the way out is the fundamental restructuring of the national economy, not (a) bailout,” he said.
On Friday, July 1, 2022, President Nana Addo Dankwa Akufo-Addo ordered the Minister of Finance, Ken Ofori-Atta, to commence official engagements with the International Monetary Fund (IMF).
In a statement signed by the Minister of Information, Kojo Oppong Nkrumah, the finance minister was instructed by the president to seek the IMF’s support for an economic programme put together by the government of Ghana.
Meanwhile, GhanaWeb is accepting nominations for the prestigious GhanaWeb Excellence Awards – Youth Edition. Watch how you can nominate from the video below.
Source: ghanaweb.com
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A COUNTRY THAT IT PULATION DON'T WANT TO PAY TAXES, BORROW TO BUILD TOILETS I DON'T WANT TO LEAVE IN THERE LOOOOOOSERS, ***barred word*** 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 BE FIXED,YOUR BRIDGE TO BE FIXED. 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.