A senior economist, Dr Yaw David has cautioned Ghanaians on not to entertain and support the idea of returning to the International Monetary Fund (IMF) for support as it comes with plenty conditions which is hardly to bear in some way or other. For over a week now, there have been discussions on Ghana returning to the IMF for fund and help since our economy has been going from bad to worse.
Dr Mordy speaking on the mid day news on 3FM with Eric Mawuena Egbeta, explained detailed why Ghana should not entertain such idea as it will go against an ordinary Ghanaian. He detailed how the IMF always comes with its own conditions and which might affects majority of us in a bad way.
“The issue has to do with the fundamentals of our economy with respect to the exchange rate, Gross Domestic Product, inflation and then other indicators particularly inflation, and GDP is flourishing and we are within the range of 3.3 to 4 per cent, inflation about 27 per cent to 30 per cent”. He said. He went ahead to explain how the conditions will affect lives in Ghana here.
“So things are very hard in Ghana but that doesn’t mean that we should be opting for IMF. We know, IMF comes with a lot of conditionalities , the conditionalities are not favorable to the ordinary Ghanaian. So the IMF should not be part of the equation”. He added. We all know by going for support from the IMF, there will be some policies that may be stopped like, The free education, NABCO and many other policies.
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