This likewise incorporates how the bonus from COVID-19 was utilized. Coronavirus was an affliction however in difficulty was an open door. Because of CoOVID-19, multilateral establishments gave us cash. We took additional cash from the Bank of Ghana and just abused it. That cash would have padded this emergency that we are going through," he set.
IMF Phobia
Mr. Mahama prodded the public authority that it was hesitant to go to the International Monetary Fund (IMF) for strategy validity, demanding that the Akufo-Addo organization has no choice than to go to the Bretton Woods Institution for a bailout.
The public authority has said IMF bailout is completely off the plan, banking its expectations on homegrown answers for restore the economy, which is hooking because of the COVID-19 pandemic and the Russia-Ukraine war.
The economy has gone under serious strain from rising expansion, significant expense of fuel, devaluation of the cedi and significant expense of living, making a move to get to the global monetary business sectors.
A past $925.9m IMF bailout bundle under the Mahama organization got a net stop on work the public area besides in basic regions, as well as a 10% cap on the ostensible expansion in the complete pay bill.
Yet, the 2020 NDC official applicant said IMF bailout proves to be useful since the projects accompanied financial union and monetary discipline, which can prompt some recuperation and enhancements.
"Over the most recent couple of days, there has been discussion from some system entertainers about a potential or looming IMF program. Because of the nature and profundity of our monetary issues, this administration practically has no other manageable choice.
IMF programs accompany monetary solidification and emphasis on financial discipline which can prompt a few recuperation and enhancements for the full scale financial front, he kept up with.
He added, this administration has, nonetheless, so bungled our economy and left it in such a horrendous express that monetary combination alone won't get the job done."