Yo You u can't go to IMF with free SHS in its ongoing structure - Seth Terkper to government
Previous Finance Minister, Seth Tekper, has requested that administration require another glance at a portion of its leader programs, as the nation sets out toward an IMF bailout.
He said this is important to welcome the economy in the groove again.
He focused on that a large portion of the lead programs, including the Free Senior High School drive (Free SHS), and the Agenda 111 are impractical and a channel on the public money vaults, thusly ought to be evaluated.
"Free SHS in its unbound structure isn't economical. Your obligation isn't economical, and you're acquiring. You're utilizing your entire income to cover remuneration and interest. You're getting for the past obligations that you've acquired to reimburse the previous obligation that you acquired to help free SHS. That is not a satisfactory conversation," he said.
Talking on Joy FM's Super Morning Show, on July 4, Mr. Tekper noticed that in difficult situations, when the nation is seeing a monetary emergency, judicious measures are expected to pad the economy, including "eliminating consumption."
He expressed for example that, during his residency as the Finance Minister under the Mahama-drove organization, the public authority needed to end different leader programs to manage the different monetary difficulties.
"We were in the Fund [IMF], when unrefined petroleum costs fell in 2015/2016. [Then,] our lead program was the E-schools. We at first expressed that we planned to develop 200 schools. Yet, when the truth hit, President Mahama demonstrated that we wouldn't have the option to finish all the 200, we might have the option to do 150 and even with that, we folded it into 2017, and 2018. We had the option to develop around 70 when we were leaving office," he reviewed.
"So that is the kind of choices you need to make," he added.
This follows the Akufo-Addo-drove government's choice to look for financial help from the IMF.
An assertion endorsed by the Information Minister, Kojo Oppong Nkrumah, and dated July 1, 2022, showed that there had previously been a discussion between the IMF chief, Kristalina Georgieva and President Akufo-Addo passing government's choice on to connect with the Fund.
"The President of the Republic, Nana Addo-Dankwa Akufo-Addo, has approved Finance Minister, Ken Ofori-Atta, to begin formal commitment with the International Monetary Fund (IMF), welcoming the Fund to help a financial program set up by the Government of Ghana."
Bureau at a gathering on June 30, 2022, upheld government's choice to seek after a financial program from the Fund.
The commitment with the IMF, the assertion brought up, will try to give an equilibrium of installment support as a component of a more extensive work to enliven Ghana's work back despite difficulties prompted by the COVID-19 pandemic and, as of late, the Russian-Ukraine emergency.
In the mean time, Information Minister, Kojo Oppong Nkrumah, says government is probably going to get about $2 billion from the International Monetary Fund (IMF) after consultations on a particular help bundle are closed.
He expressed that considering Ghana's portion and macroeconomic information, it is workable for the country to get that cash to assist with supporting its stores.
Accordingly, government might have the option to meet its liquidity and obligation administration commitments and furthermore support homegrown income measures.
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