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IMF only alternative to salvage economy if homegrown solutions fail – John Kumah

John Kumah98.png John Kumah, Deputy Minister of Finance

Mon, 13 Jun 2022 Source: www.ghanaweb.com

Ghana will not go to the IMF, Govt

Ghana should consider going to the IMF, Economists

This is not about politics, John Kumah on IMF


Despite consistent assurances by the government that going for an International Monetary Fund programme was not part of the strategies it adopted to curtail the woes of the economy, Deputy Finance Minister Dr John Kumah has hinted that the country may consider it after all.

According to him, this may happen if the homegrown solutions the government is proposing do not work.

“If it [bringing the economy back to life] becomes impossible, then it is the only alternative to salvage our economy. But where we are now, we think we are in the position to salvage the economy or to try the homegrown policy we are adopting”.

“If our programmes fail us and we are not able to get the confidence and the results in the fiscal space discipline, which we have to impose on ourselves, then we don’t have a choice.”

Economists and analysts have proposed that Ghana should consider signing up for an IMF programme to help deal with challenges in the economy.

But government had stated emphatically that an IMF programme was not an option.

However, the Deputy Minister noted that the conversation on applying for an IMF programme should not be based on politics but on how to help the economy rebound.

“It is not about politics when it comes to the economy. But for COVID-19, there is no way we should be discussing IMF by this time.”

“When President Akufo-Addo picked this economy and started growing it with an average of 7%, we saw how the economy was doing so well”, he stated.

Source: www.ghanaweb.com
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