An economist has urged Ghanaians to have realistic expectations on how the government would carry out and complete projects as the nation applies for IMF help (IMF).
Evans Nunoo contends that the administration has demonstrated its inability to adequately rule the nation and that as a result, citizens shouldn't hold out much hope.
But he urges the government to reconsider measures like the Free SHS in order to boost economic growth.
"Let's face it, the fact that we have reached this position demonstrates our inability to govern ourselves. When our own policies have demonstrably failed, we cannot promise to stick to them.
In an interview with David Akuetteh on Luv, he said, "I don't see why government has promised people things that they just cannot afford." Ken Ofori-Atta, the finance minister, was given the go-ahead by President Akufo-Addo to start official negotiations with the Fund for financial assistance.
Additionally, he ordered the IMF to back whatever economic plans the nation may have to guarantee its own economic development.
Evans Nunoo, who serves as the Chief Executive Officer of the business and management consulting firm DE-ALPHA Project Limited, responded by stating that the government has adopted overly ambitious policies.
"This may seem contentious, but the government has to reconsider measures like the Free Senior High School since they are illogical. The scholarship must have a clause requiring individuals who earn more than a certain amount and can afford to pay for school to do so.
Government has recently come under pressure to carry through its commitments to build interchanges and finish ongoing projects, including as the Ashanti region's Boankra Inland Port.
Evans Nunoo, however, asserts that the IMF's conditions may prevent the government from starting new projects or even finishing those that are already underway.
He said that government marquee projects will inevitably suffer and slow down as a result.
"Our political leaders have always been overly preoccupied with winning votes and achieving quick success. They decide to squander money on items that will maintain them in position of authority. They have demonstrated that they are unconcerned for the nation's future or the lives of its citizens.
"I believe that the IMF will be watching our actions and that people may finally exhale in relief since the politicians and leaders who have led us down this road are no longer able to do so. We also have a solid track record of success working with the IMF, so at the very least it is encouraging to have their support, Mr. Nunoo continued.
He stated that because of IMF requirements requiring lower borrowing interest rates, the loan will prove to be advantageous for the private sector.
"People would be encouraged to take out loans and make investments in Ghana. As a result, the private sector will flourish and the Ghanaian cedi would appreciate, enabling it to complete the tasks left undone by the government.
"Similar circumstances have occurred previously, when Ghana makes enormous efforts to rebuild and dazzle the world before committing the same errors and suffering once more. There are limits to what people will endure, therefore the government needs to take action immediately.