The founder of the Progressive Peoples Party (PPP), Dr. Papa Kwesi Nduom, has expressed doubts that government can \u00a0strictly adhere to the International Monetary Fund (IMF) bailout program.<\/p>\n
He argued that the country\u2019s track record regarding the strict adherence to IMF programmes is not encouraging.<\/p>\n
He recalled that in the past, Ghana \u201cwent there, we made promises, they gave us money and once we got the money, we were happy and we didn\u2019t do what was required and after a while, the situation went bad again.\u201d<\/p>\n
[contextly_sidebar id=”hnPloisJ2XrFwVuGwTfmSr2cg4axKysv”]International rating agency, Fitch has also expressed similar concerns saying given Ghana’s\u00a0track record, it does not trust the country can follow the IMF final programme<\/span><\/a><\/span><\/strong>.<\/p>\n Speaking to\u00a0Citi News<\/strong>\u00a0after the swearing in of new PPP executives for the Central Region, Dr. Nduom said if the government does not exercise strict discipline, Ghana will crawl back to the IMF for another bailout in the coming years.<\/p>\n The 2012 PPP presidential candidate said despite all the promises made by the government to the IMF, “once the funds are made available, mismanagement would set and we will be driven back to the IMF.”<\/p>\n The IMF together with government officials are drawing up a three-year programme<\/strong><\/span><\/a><\/span> to revive Ghana\u2019s economy using government\u2019s home grown policies.<\/p>\n President John Mahama, on Sunday was hopeful this would be the last time<\/strong><\/span><\/a> <\/span>Ghana will seek a bailout from the IMF.<\/p>\n During his visit to the United States where he attended the 69th United Nations General Assembly, President Mahama promised that this bailout will be guided by past experiences<\/strong><\/span><\/a><\/span> to prevent the repetition of past avoidable mistakes.<\/p>\n The IMF has already announced some targeted areas<\/strong><\/span><\/a><\/span> which will be tackled throughout the programme including the energy and public sectors.<\/p>\n Besides, the strutural reforms the IMF has proposed to financially support Ghana to help boost economic growth.<\/p>\n Experts and some industry players are certain the bailout programme is the way to go, while some politicians have kicked against the move<\/strong><\/span><\/a><\/span> stating that, citizens will be burdened with more economic hardships.<\/p>\n <\/p>\n –<\/p>\n By: Efua Idan Osam\/citifmonline.com\/Ghana
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