Sharing his thoughts with Kwaku Dawuro on Movement In The Morning Show on Wontumi Radio/Movement TV, Dr. Sarpong noted that this wouldn’t be like the initial subscription by the erstwhile Mahama’s administration where employment within the public sector came to a halt.
“The truth of the matter is that the conditionality were not imposed on the country by the IMF, it was a negotiation the National Democratic Congress (NDC) provided. How could you have gone for such a negotiation which is to the disadvantage of the teeming Ghanaian youth?”, he lamented.
He went further to advise the New Patriotic Party (NPP) government that it should be wise to ensure that the negotiations to be presented to the IMF will benefit all Ghanaians and if that is done, then this will be the best bailout so far in the history of the country.
In a sharp response to critics who claim the government is going to the IMF due to gross mismanagement of the economy, Dr. Sarpong stated emphatically that “the other critical tool for which Ghana is going to the IMF is the current global crisis ; covid-19 pandemic and the Russia-Ukraine war, which has contributed to 70 %, whiles human attitude contributed 20% whereas mismanagement played a 10% role. Consider what has happened from 2020 up until now and tell me if it’s because of mismanagement.”
This comes after President Nana Addo Dankwa Akufo-Addo, had authorized Finance Minister, Ken Ofori-Atta to commence formal engagements with the International Monetary Fund (IMF) to support the country’s economy.
A statement issued by the country’s information ministry said the order follows a telephone conversation between President Akufo-Addo and the IMF Managing Director Miss Kristalina Georgieva.
“At a meeting on June 30th, 2022, the cabinet indicated its support for the decision”, the statement said on Friday, July 1.
“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 crisis”, the statement stressed.
Video below…