Mixed reactions to government decision to seek IMF support

Mixed reaction has greeted the decision by the government to seek an International Monetary Fund (IMF)programme to prop up the economy.

While some experts are of the view that it is a good decision by the government considering the current economic conditions, others believe an IMF programme is not the solution to the country’s economic woes.

The President of the Republic of Ghana, Nana AddoDankwaAkufo-Addo, on Friday authorised Finance Minister, Ken Ofori-Atta, to commence formal engagements with the International Monetary Fund (IMF).

The engagement is to invite the Fund to support an economic programme put together by the Government of Ghana, following a telephone conversation between the President and the IMF Managing Director, MsKristalinaGeorgieva, conveying Ghana’s decision to engage with the Fund.

President of IMANI Centre for Policy and Education, Franklin Cudjoe, said the NationalDemocratic Congress had the Senchi blueprint ahead of seeking IMF support during their tenure in office.

“I remember taking part in privileged meetings in Washington with the IMF.  How prepared is the New Patriotic Party to broker a deal given the time wasted,” he queried.

For his part, Razia Khan, an Economist,in a tweet said “This is positive news, given the pressures of COVID-19 crisis and the Russian Ukraine war in quick succession.”

“This should help Ghana deal with its challenges, with external Balance of Payment assistance,” she said.

Bright Simons,Vice President of IMANI Centre for Policy and Education, in a tweet said Ghana waited too long to go to the IMF and the decision for an IMF programme should not be a “short-term one.”

Frank Annoh-Dompreh, the Member of Parliament of Nsawam-Adoagyiri and Majority Chief Whip, in a tweet said “If it means Ghana must go to the IMF at the “strange times so be it, I am certainly confident we shall scale this wall too.”

A Finance lecturer, Dr Williams Peprah, told Myjoynews on Friday that the decision of the government to pursue an IMF programme was good.

BYKINGSLEY ASARE

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