Government has rejected claims a bailout from the International Monetary Fund (IMF) will lead to job cuts.<\/p>\n
The Minority in Parliament at a news conference on Tuesday predicted tougher times<\/strong><\/span><\/a> ahead including job cuts as government turns to the IMF for support.<\/p>\n The Trades Union Congress<\/strong><\/span><\/a> (TUC) has announced it\u00a0will resist any program from the IMF which will lead to job cuts in the public sector.<\/p>\n But Deputy Trade and Industry Minister, Kwaku Rickett Hagan in an interview with Citi New<\/strong>s said the Minority\u2019s claims are false.<\/p>\n He explained that the IMF bailout will rather lead to the formulation of policies that will cushion Ghanaians.<\/p>\n Ricket Hagan mentioned that since the government presented its homegrown policies to the IMF, talks have been ongoing.<\/p>\n \u201cWe have been talking to the IMF, we\u2019ve been having discussions\u2026we submitted that [homegrown policies] for them to help us,\u201d he remarked.<\/p>\n [contextly_sidebar id=”0q3DB7mvPftsnLzh2gIrbYu7QLx7aMQl”]According to the Deputy Minister, the IMF has been assisting a number of countries and the challenges Ghana is currently dealing with, \u201cthe IMF has seen it elsewhere so we run to them to be able to benefit from that experience.\u201d<\/p>\n He maintained that contrary to the Minority\u2019s position, \u00a0a bailout from the IMF \u201cdoesn\u2019t necessarily mean that we need to cut down the work force and the IMF agrees with that.\u201d<\/p>\n Ghana began the first phase of negotiations with officials from the IMF on Tuesday aimed at formulating and shaping policies to help pull Ghana out of the existing socio-economic problems.<\/p>\n The Mahama-led government has been blamed for mismanaging the economy resulting in high inflation rate, increasing utility tariffs, constant depreciation of the cedi against other major trading currencies, unreliably utility supply which is adversely affecting productivity, price hikes in petroleum products, among others.<\/p>\n The President, John Mahama has however, been assuring Ghanaians that the situation will soon be brought under control.<\/p>\n But Economists<\/strong><\/span><\/a> and some political parties<\/strong><\/span><\/a> are worried that seeking assistance from the IMF will further burden citizens who are already struggling to cope with existing socio-economic situation.<\/p>\n –<\/p>\n By: Efua Idan Osam\/citifmonline.com\/Ghana<\/span><\/p>\n