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May 18th , 2024

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IMF, WELCOME TO GHANA: 1

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A year ago

A house partitioned against itself can't stand" - Abraham Lincoln (sixteenth U.S. President)

 

That the International Monetary Fund (IMF) is a situation with two sides is a cliché. A blade that cuts both ways is a weapon whose edges cut on the two sides, in the event that it isn't taken care of appropriately. Metaphorically utilized, "two sided deal" represents something that has a decent side and a terrible side. In Shakespeare's "Hamlet", the legend of the play, Hamlet, faults his uncle, Claudius, for the demise of his dad. Furthermore, intensifying the issue is the way that Claudius is currently the King of Denmark, and is hitched to Hamlet's mom, Gertrude. In a visit with Rosencrantz, Hamlet contends: "… why, then, 'tis none to you: for there isn't anything either positive or negative, however thinking works everything out: to me it is a jail." In a talk in the "convent scene" Hamlet speaks: "To be, nor not to be, - that is the issue - whether 'tis nobler in the psyche to experience the slings and bolts of ludicrous fortune, Or to take arms against an ocean of difficulties, And by restricting end them?

 

At the point when in July this year, the IMF group showed up in Ghana drove via Carlo Sdralevich for conversations with Ghanaian specialists about a potential IMF-upheld program, it was the seventeenth (seventeenth) time the IMF had come to Ghana for a bailout. In May 1966, (after the defeat of Dr. Kwame Nkrumah in February, 1966), the National Liberation Council welcomed the IMF to administer the privatization of the non-benefit making state organizations to transform them into productive foundations. The IMF stay for this "reserve game plan" went on until May, 1969.

 

In January, 1979, the nation went to the IMF for the second time after a progression of defilement, financial fumble and the impacts of military overthrows dialed back monetary development in the country.

 

To be continued...

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