The president Nana Addo Dankwah in February 2018 announced that Ghana was likely to withdraw from the International Monetary Fund aid program as it seeks not to extend its agreement as Ghana is expected to be able to pay all its loan, and get off from the 3-year IMF financial aid program.
However, a fiscal policy specialist at Oxfam, who is also a lecturer at the University of Coventry in the United Kingdom fiscal disagrees with this hope of Ghana withdrawing from the International Monetary Fund but rather believes that there is a high possibility of Ghana running back to the IMF for aid.
He said it in an interview on Focus Fm’s Technocrat show with Nana Jantuah.
Ghana had the belief of withdrawing from the aid program after it has been able to settle all its debt owed the IMF, but looking at the current huge debt stock of the country that hope seems not to be a reality anytime soon.
According to him, the message being Championed by President Nana Addo Dankwah about Ghana Beyond Aid cannot be realized anytime soon, if that is the expectation of the president and not probably a party beyond aid.
‘‘ We have a huge debt stock and we are here talking about Ghana Beyond aid when we are not doing anything to reduce if anything at all there is a high possibility of Ghana going back to the IMF.’’ he said.
He the leaders of this country should channel their efforts at reducing the debts of the country, and also strengthen the economic fundamentals before thinking of moving beyond aid.
What do you think about this piece? Share your comment in the comment thread and share the story using the social media buttons above. You may reach the editor on 0249579664. Thank you.