General News of 2014-05-14

IMF policies have never worked- TUC boss

The Secretary General of the Trades Union Congress (TUC) is warning the country against pursuing policies from the International Monetary Fund (IMF).

"IMF policies and guidance have never worked. They will give advice and come back and accuse the same government," Kofi Asamoah said in an interview with Joy News.

He was responding to comments by President John Mahama at the opening of a-four-day National Economic Forum at Senchi, in the Eastern Region.

The president, in responding to queries by the NPP that government had already entered into an agreement with the IMF, said, "...as president, I have not taken any decision to enter our country into an IMF programme."

Kofi Asamoah, who is a huge critic of the fund, welcomed the decision by the president.

He said the TUC has never "come to appreciate any country that has really solved its problems through the Fund."

"We need to be quite careful in handling this issue. They will come with the kind of conditionalities, which will eventually worsen the situation."

The IMF has meanwhile, raised issues with the measures being taken by government to stabilize the falling cedi.

In a close assessment of the country's economy, the fund said unless stringent measures are taken, including the arrest of rising expenditure, nothing will change.

Source: myjoyonline
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