A founding member of the New Patriotic Party (NPP), Samuel Odoi-Sykes, is predicting a possible defeat for the governing National Democratic Congress (NDC) at the next elections, if they accept the wrong bailout from the International Monetary Fund (IMF).<\/p>\n
Mr. Odoi-Sykes predicted in an exclusive interview with Citi News<\/b>\u00a0that\u00a0<\/b>the IMF bailout is likely to bring untold hardship on Ghanaians, and advised government\u2019s team that will lead the negotiations to consider all aspects of the package and the consequences thereof.<\/p>\n
\u201cOne of them is that the people will have to suffer,\u201d he warned.<\/p>\n
\u201c\u2026If you think the suffering will be unbearable,\u201d then it must weigh its options properly during negotiations with the IMF, as far as the bailout is concerned.<\/p>\n
[contextly_sidebar id=”hGMTybphKlPD7l38kXzWisFi4F0iun2e”]A team of IMF experts are expected in the country to negotiate and fashion out a programme to suit the country\u2019s needs as well as discuss policy alternatives with the Bank of Ghana.<\/p>\n
According to President Mahama, the decision to open discussions with the IMF was not because of the failure of government\u2019s own home grown solutions, but because of the need for policy credibility and confidence from the international financial institutions, capital markets and investors for the measures being implemented to restore economic stability and growth.<\/p>\n
\u201cSo we are going to discuss with the IMF how we can turn the deficit around quickly and create the kind of confidence even in the short-term narrative,\u201d<\/p>\n
The IMF in August announced it had received a formal request from Ghana to initiate discussions on an economic programme that could be supported by the IMF.<\/p>\n
The Deputy Managing Director of the IMF, Min Zhu in a statement said: \u201cThe Fund stands ready to help Ghana address the current economic challenges it is facing.\u201d<\/p>\n
\u201cAn IMF team will be sent to Ghana in early September to initiate discussions on a programme,\u201d he added.<\/p>\n
A former Finance Minister Dr Kwesi Botchwey is expected to lead\u00a0 Ghana\u2019s economic team that will enter into negotiations.<\/p>\n
<\/p>\n
By: Nana Boakye-Yiadom\/citifmonline.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":"
A founding member of the New Patriotic Party (NPP), Samuel Odoi-Sykes, is predicting a possible defeat for the governing National Democratic Congress (NDC) at the next elections, if they accept the wrong bailout from the International Monetary Fund (IMF). Mr. Odoi-Sykes predicted in an exclusive interview with Citi News\u00a0that\u00a0the IMF bailout is likely to bring […]<\/p>\n","protected":false},"author":25,"featured_media":38293,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[43],"yoast_head":"\n