Reports have it that government has allegedly reached out to the International Monetary Fund (I. M. F) for a Bail out program.
According to Joy Fm’s George Wiafe, government had already sought economic from the IMF, against the shocks of the the COVID 19 pandemic, but the outfit advised that the only it could offer financial support is for government to sign onto a $70 billion program.
What we understand [from our sources] is that this formal engagement looked at what could be in for us [Ghana] if we should go for a fund programme. Let us put it on record that the government has always been going for several fixes even during the Covid-19 times, they were trying to get some support from the Fund.
“What we are picking up is that this [latest] engagement is linked to having a programme for Ghana. That is why we are following this deeply. It was looking at whether Ghana could have gotten some additional support from the fund in terms of monetary.
“The Fund is also saying the fund that they have available…more than $70 billion, you have to sign up to a programme (so that) you can get that support. That is why we are seeing this engagement going on,” George Wiafe said
According to Gabby Asare Otchere Darko, the of the E-Levy has failed to yield the revenues government had targeted prior to passage.
He lamented on how the levy has only brought in 10 % of the expected revenue.
He revealed that he has never opposed an IMF bailout but he is against a bailout which seeks to push developing countries into economic doldrums.
“I am not for an IMF program that throws peanuts at us but imposes conditions that will end up hurting the poor, jobs and businesses more. Covid-19 and War in Ukraine are not of Africa’s doing but more to our doom”.
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