If Ghana’s expenditure remains the same, IMF programme will fail – Dr Yamson

An Economist, Dr. Ismael Yamsom, has asked the government to be circumspect in its expenditure else the loan from the International Monetary Fund may not solve the crisis for which it was obtained.

According to the Economist, Ghana’s biggest problem has been its expenditure being higher than its revenue.

He stated that the government must take deliberate steps in the mid-year budget review to show its resolve to cut expenditures.

Dr. Yamson said the IMF should only support what the government wants to do instead of imposing and spoon-feeding.

“That’s why the fund is clever to say this programme is the authority’s programme and we are supporting it. So the IMF programme should only be a support to what our government should do and must do. And for me what is the problem?

“The problem has always been that we spend more than we raise in revenue. So let the government demonstrate in its budget on Monday that truly it is going to take steps, clear steps, credible steps, that it will cut expenditure and that it can be quantifiable, verifiable, and that we can all track it.

“Because if we maintain the same expenditure levels then the IMF programme can go sleep. Because you’ll give me one billion a year, how much debt and interest is government paying every year?” he was quoted by myjoyonline.com.

SSD/NOQ

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