Former Finance Minister, Seth Terkper says Ghana is going to the International Monetary Fund (IMF) a chunk too beyond due, in particular at the same time as, from all indications, it have become clean that the monetary gadget have become headed for greater extremely good hard times.
He said Finance Minister Ken Ofori-Atta’s adamancy desires to be blamed for Ghana’s pointless put-off to engage with the IMF for a bailout.
Speaking in a Citi News interview, Mr. Terkper said, “if you observe the MPC reports, it saved pointing to the economic deterioration the utilization of things of insurance credibility. The last straw have become our downgrade from B magnificence to C. If this have become now not alarming enough to government, then what needs to be alarming?”
He argued that the current scenario Ghana finds itself in is the worst it is been in advance than on the lookout for an IMF programme.
On Friday, July 1, 2022, the Ministry of Information added that President Akufo-Addo had given the recognition of Ghana to begin engagements with the IMF for a bailout.
The Information Ministry said the Minister for Finance, Ken Ofori-Atta can be important the negotiations with the IMF withinside the approaching days.
The facts has been received with mixed feelings. This can be the 17th time Ghana is going to the IMF for help.
The 16th time have become underneath the John Mahama control in 2015 and led to 2019.
Terkper believes that had the government acted early enough, Ghana ought to were at advanced stages in its talks with the fund.
“In the beyond, at the same time as we went to the fund, we didn’t get to this level. What is surprising have become the adamancy of the Minister of Finance [which] had to be corrected thru manner of approach of the president because of the reality looking at the numbers, it wasn’t good. The scenario have become getting dire and government have become walking out of options, and it have become time to bear in mind an IMF insurance desire as a good one,” he said.
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