IMF, World Bank are temporal fixes until problems hit again - Kwesi Pratt

Veteran journalist and social commentator, Kwesi Pratt Jnr, has criticized the solutions provided by the International Monetary Fund (IMF) and the World Bank, stating that they do not address the fundamental problems faced by countries like Ghana.

In a recent statement, Pratt highlighted the ineffectiveness of IMF and World Bank interventions.

Speaking on Good Morning Ghana monitored by mynewsgh.com he said “We have a fundamental problem that needs to be addressed, many solutions have been provided.

"I don’t think any is working, because if you go to the IMF and World Bank, it means first and foremost you don’t understand the problem, and you have no intention of solving the problem.”

Pratt emphasized that seeking assistance from these international financial institutions merely provides a temporary respite without addressing the root cause of the problem.

He criticized their approach as offering only a short-term cushion to economic challenges, which ultimately leads to the recurrence of the same issues in the future.

“What the IMF and the World Bank provide is not a solution, it is just to give you a small cushion to play around for a few years and the problem will hit again,” Pratt stated.