‘IMF Bailout Is Not A Panacea To Ghana’s Crisis’

Npp Activist Declares

A leading member of the New Patriotic Party (NPP) in Germany, Mr Kwaku Anane-Gyinde has reminded Ghanaians that the IMF Bailout being sought by the beleaguered Mahama administration is not an antidote to the current economic crisis facing the country.

Addressing a meeting of NPP supporters in Aachen over the weekend, Mr Anane-Gyinde who is also the National Organiser of NPP-Germany explained that no developing country has been able to overcome its economic woes through IMF sponsored programmes or bailout.

According to him Ghana in the early 1980s was forced to adopt and implement a series of IMF sponsored programmes including the Economic Recovery Programme (ERP), Structural Adjustment Programme (SAP) and the Programme of Action to Mitigate the Social Cost of Adjustment (PAMSCAD) all of which have unfortunately ended up worsening the living conditions of the ordinary Ghanaian. “Under these IMF dictated programmes, what we witnessed were massive layoffs of workers disguised as redeployment and the sale of state owned enterprises misleadingly referred to as divestiture” he added. He insisted that at best the Bailout can only provide a short-term respite but does not address the fundamental problem that have created the crisis in the first place arguing “the current crisis is the inevitable result of reckless spending, excessive borrowing, massive corruption, the payment of fraudulent judgement debts, incompetence, poor leadership and bad governance” Mr Anane-Gyinde observed that issue confronting Ghana today is about leadership and good governance and as such the IMF Bailout is merely addressing the symptoms and not the causes of the crisis confronting the country and said the best bailout Ghana needs and deserves is for Ghanaians to bailout the Mahama-led government from the flagstaff house. The NPP Activist noted that the NDC government has for the past five years demonstrated that it is incapable of managing the economy hence there is the urgent need for Ghanaians to rally behind the NPP to help salvage the economy from imminent collapse and stressed that the party has the right policies, programmes and people to put Ghana on a sound economic footing. Mr Frank Aseidu, Acting Chairman of the Aachen Chapter of NPP, told the gathering that a series of programmes have been lined up to recruit more people into the party adding Ghanaians across Europe and other parts of the world now realise the need for the NPP to return to power in 2016 Mr Aseidu urged Ghanaians living in Aachen and its environs to throw their weight behind the party so as to wrestle power from the incompetent and corrupt leadership of President John Dramani Mahama For more information on how to join the local chapter in Aachen please call the following numbers. Tel. 01521 3315718 Tel. 015214007816 Tel.0170 8736379 The Communications Team NPP-NRW