IMF wouldn’t solve our problems but ensure debt sustainability - Economist

Jelili Jerry Afolabi.png Ghanaian economist, Jelili Jerry Afolabi

Mon, 4 Jul 2022 Source: rainbowradioonline.com

Ghanaian economist Jelili Jerry Afolabi has reacted to the decision by Ghana to seek a bailout from the International Monetary Fund (IMF).

Mr. Afolabi opined that the IMF wouldn’t solve our economic problems nor would it put money in the pockets of citizens.

He explained that the IMF would help government move towards debt sustainability.

He added that the move would also create some financial support for the government budget and streamline budget expenditure, most especially government wastage.

President Akufo-Addo has asked Finance Minister Ken Ofori-Atta to start negotiations with the International Monetary Fund (IMF) for an economic bailout.

The statement by the Ministry of Information said President Nana Addo Dankwa Akufo-Addo had authorized finance minister Ken Ofori-Atta to start the formal engagements after a telephone conversation with IMF Managing Director Kristalina Georgieva.

“The engagement with the IMF will seek to provide a balance of payment support as part of broader efforts to quicken Ghana’s build-back in the face of the challenges induced by the COVID-19 pandemic and the Russia-Ukraine crisis,” the statement added.

Mr. Afolabi in a brief statement on the matter said: ”A President that doesn’t believe that every Ghanaian needs to have a voice and seat at the table of discussion can’t bring any meaningful progress to the people because He doesn’t listen. What makes a difference in a country is the government policies and implementation.

He said,"the IMF wouldn’t solve our problems nor would they put money in anyone’s pocket, however, what they would do is help government move towards debt sustainability. Create some fiscal support for the government budget. Streamline budget expenditure. Most especially the government wastage!!”

Source: rainbowradioonline.com
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