Dr. John Kwakye, Senior Economist on the Institute of Economic Affairs (IEA), says the authorities ought to provide an explanation for to Ghanaians what accounted for its selection to are seeking an IMF bailout.
According to him, citizens, as crucial elements of democracy, ought to be briefed and made aware about key selections the authorities take.
Speaking on The Big Issue on Saturday, he stated giving information about the authorities’s selection will assist analysts and different stakeholders recognize the purpose and with any luck be satisfied that it's far a step withinside the proper direction.
He argued that the authorities need to have held huge consultations at the difficulty earlier than taking the selection.
“The assertion doesn’t supply us sufficient facts as to why we've got determined to visit the IMF. Some clarification ought to receive to Ghanaians. The quicker we get it, the higher due to the fact we're in a scenario wherein human beings are taking unique positions, so that they ought to supply us sufficient motives to persuade us on why they have got determined to visit the IMF. That is presently missing,” he stated.
The Ministry of Information on Friday, July 1, 2022, introduced that President Akufo-Addo had given popularity of Ghana to start engagements with the IMF for a bailout.
The ministry stated the Minister for Finance, Ken Ofori-Atta may be main the negotiations with the IMF withinside the coming days.
The information has been acquired with blended feelings, because it comes as a prime U-flip via way of means of the authorities after it vowed now no longer to ever cross below an IMF programme.
Dr. Kwakye stated he's positive that the authorities remains aggravating approximately going below the programme since, primarily based totally on how precarious the financial system is on the moment, “they may be now no longer positive of the confines of the programme they ought to prepare in order to permit them to get the accept as true with of the worldwide network.”
He confused that the IMF’s paintings with Ghana whilst below a application will assist Ghana benefit credibility at the worldwide marketplace which could deliver a few respite.
“When the IMF comes, the worldwide network will now take delivery of that now that the IMF is with you, you may do the proper thing. We are in this kind of critical monetary scenario that they can’t visit the worldwide monetary marketplace [currently],” he added.
blogpay
Total Comments: 0