General News of 2014-06-09

K.B Asante disapproves IMF bailout proposals

Former diplomat and member of Kwame Nkrumah's government, Dr. K. B Asante has expressed disapproval of a proposal to seek bailout from the International Monetary Fund (IMF) in the wake of Ghana's economic challenges.

K.B Asante said the country should blame itself for the poor level of development, and admonished Ghanaians to put in more to achieve improved economic conditions since all the needed resources were available.

He said if Ghana makes the most of its history and resources, going to the IMF and its affiliates for support will be unnecessary.

He made these comments at the launch of the book, 'Visions of Ghana: Decoding Development' written by Prof Kwame Addo.

Finance Minister, Seth Terkper, has indicated government may turn to the International Monetary Fund (IMF) to help restore economic stability.

Speaking at the Launch of the book, the former diplomat also said the book would help evaluate national progress as well as empower citizens to demand development from government.

The book is a pictorial impression of Ghana's biography and comprehensively details Ghana's resource strength and what they can be used for.

"We live in abundance yet we are poor...we have the human resources...whether you liked what was said or not at Senchi; the latents were there so we should blame ourselves. I will propose that we form a study group which will at least once a month take an important aspect of the book, study it and see how far we have come and if we are not, ginger up our government to do the things they should do," Dr KB Asante said.

Mr K.B Asante also prescribed a thorough study of Prof Kwame Addo's new book.

Prof Addo is an Architect and a Visionary who is little known in Ghana, but is renowned internationally.

Stressing the importance of Prof Addo's book, for national development, former Finance Minister Prof. Kwesi Botchwey said the book pulls Ghana to the middle of two extreme schools of thought on development

"We say we've achieved nothing since independence or we say on the other extreme that we are a very special people; we are the first to do this, and that and so on...it [the book] enables us to review what we've done, be proud of what we've achieved but even more important to look more carefully at the real potential that we need to unleash to realize what we are capable of doing," said Prof Kwesi Botchwey.

Chairperson of the Convention People's Party and daughter Dr Kwame Nkrumah, Samia Yaba Nkrumah, also stressed the need for the country to revisit her father's vision for the country's development but added it would require proper planning to be successful.

Colombian ambassador to Ghana, Claudia Turbey Quintero said her country is proud of the author and his work, describing it as a clear guide for development.

'Visions of Ghana: Decoding Development' appraises developmental plans by successive governments and sums up what is needed for the future.

The first copy sold for 3000 cedis.