Akufo-Addo plans to renegotiate IMF
Akufo-Addo plans to renegotiate IMF, International Monetary Fund because it has become necessary, as he is the flag bearer of the New Patriotic Party in Ghana.
He said this while an interview given to the Joy Business, right after a presentation by his mate Dr Mahamudu Bawumia. He was the former Deputy Governor of Bank of Ghana, it was his fourth addiction appearance in the distinguished speakers series, this series was organized by the CUC, Central University College they presented a grim picture of indicators of Ghana’s economy, initiating rather emphatically that the International Monetary Fund bailout is not solution of challenges of Ghana facing today.
This presentation was consisted of 70 pages in which Dr Bawumia said that the country is going back to IMF, because of its merchant’s borrowing, fiscal indiscipline by government and corruption.
He added that Ghana is not only corrupt country, but it has very corrupt officials with impunity.
He stated that Government in spite of a remarkable rise in revenue inflows loans that is proceeds from cocoa, oil, gold that have little to demonstrate for its infrastructure investment terms.
Dr. Bawumia said that opposing to government assurance that is borrowing to the investments, which facts are that the capital investment expenditure of Ghana has declined.
He said that IMF bailout is nearly billion dollars it is equivalent to build three markets in Kumasi, a bailout government must not bank its hope lying on.
Dr. Bawumia said that as a matter of urgency government must begin to streamline the dept profile of it, invest more in agriculture, solve the power crisis and provide believable data for it policies in economy.
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