Professor of Finance and Economics at the University of Ghana,
Dr. Patrick Assuming, has declared that Ghana's most expensive program with the International Monetary Fund (IMF) is the one that the country recently undertook.He expressed his concerns, calling the sacrifices Ghanaians were forced to make under the program problematic and intolerable.In a panel discussion on Tuesday, November 21, at the Graphic Business/Stanbic
Bank Breakfast Meeting, Dr. Assuming pleaded with the government to make sure the nation never goes back to the Bretton Woods Institution.
He made a special point of pointing out that businesses and households have suffered greatly as a result of conditionality like the Domestic Debt Exchange Program (DDEP).
Given the nature of the program and the extent of the sacrifices required of us in order for it to be implemented, this is the most expensive IMF program for the average Ghanaian, both for households and businesses.
Our senior citizens have faced many difficulties and problems as a result of the domestic debt exchange."
Ghana is currently asking the International Monetary Fund (IMF) for $3 billion in balance of payments support.The government is actively negotiating with its outside creditors to guarantee the
approval and delivery of the $600 million second tranche of the bailout.*In an effort to address Ghana's recurring election-year budget overruns, the Graphic Business/Stanbic Bank Breakfast Meeting will focus on the topic of "Fiscal Discipline: Breaking the Political Business Cycle in 2024."The two main speakers are Dr. Asuming and Michael Bozumbil, the CEO of Petrol sol.
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