Ghana doesn't need the IMF, it needs strong leadership

IMF 333 Government has directed the minister of finance to begin engagements with the IMF

Mon, 4 Jul 2022 Source: Joel Savage

The government now believes that turning to the International Monetary Fund will assist recover the collapsed economy and the depressed currency after the NPP government failed to utilize the nation's resources and its engagement in significant corruption that has harmed the country's finances.

I'm really saddened that despite being in power for more than five years, many Ghanaians still don't understand how tremendous corruption and terrible leadership were to blame for the country's quick decline, which included the collapse of its economy, a high unemployment rate, and a depreciating currency.

If a businessman can offer an account after investing one dollar, it is unlikely that he will do so after investing one hundred dollars because he lacks the necessary entrepreneurial or leadership abilities. Ghana's current issue is that.

The success of a nation's development depends on strong leadership, a highly effective judicial system, and a strong, intelligent finance minister who can secure funding for the necessary development projects, particularly the establishment of industries and factories to support the thousands of young people without jobs.

When Akufo Addo became president, though, it was different. Since he hasn't made any urgent plans, the Cathedral's construction has been a contentious topic for almost two years. Despite the president's cutting of several sods for projects, none of the projects were carried out, and it is unknown how the funds are being used.

In the real world, efficiency is a more beneficial leadership quality. Business executives that put a well-organized and efficient plan into action will surely triumph in the current environment of fierce competition. Ghana's president, Nana Akufo Addo, is lacking in these traits.

When a country is having financial problems, resources are concentrated on finding ways to provide jobs for the populous and on giving farmers money so they may increase production. But instead of accomplishing these things, the president opted to live a life of luxury and make irresponsible expenditures.

Despite Ghana's abundance of significant natural resources, such as diamonds, gold, bauxite, manganese, and important agricultural goods, financial management, massive corruption and a lack of effective leadership have contributed to the nation's decline.

Therefore, what will the value of going to the International Monetary Fund be if all of the country's resource revenues have completely turned into waste because of corruption and the lack of skilled leadership? Additionally, that money will be wasted.

Ghana doesn't need any financial assistance from the International Monetary Fund, but an efficient and hardworking leadership is what the country needs right now.

Columnist: Joel Savage