IMF alone can't help Ghana - Kofi Bentil

Kofi Bentil IMANI12131312133456 Vice President of IMANI Africa, Kofi Bentil

Thu, 20 Oct 2022 Source: www.ghanaweb.com

Vice President of IMANI Africa, Kofi Bentil, has called on the Government of Ghana to look beyond the International Monetary Fund (IMF) to address the nation's current economic challenges.

The Government of Ghana in July this year began formal negotiations with the IMF for economic support, but according to Kofi Bentil, the government should engage other international financial organisations like the World Bank if it will succeed in managing the current economic challenges.

"We need more than the IMF. We need to be speaking to the world bank and friendly nations for concessionary loans to shore up the economy and then get IMF to tide us over to health. We should be speaking to them by now, IMF alone can't help us," he wrote in a Facebook post.

Ghana, over the past months, has experienced serious economic challenges plummeting the country into severe price hikes amidst a poorly performing cedi on the exchange market.

The government, in its bid to manage the situation, is seeking an IMF programme.

The Director of IMF's African Department, Abebe Aemro Selassie, in a recent media engagement, stated that Ghana needs to show proof of debt sustainability in order to merit an economic support programme.


Source: www.ghanaweb.com
Related Articles: