The Minority in Parliament has raised worries that the $3 billion bailout from the Global Money related Asset will carry inappropriate difficulty to Ghanaians, particularly the adolescent.
The IMF’s Executive Board approved Ghana’s $3 billion bailout request on Wednesday with the intention of reviving the struggling economy.
Following Ghana’s receipt of financing assurances from the Paris Club, the decision was made during the Executive Board meeting on Wednesday.
However, in a statement that was signed by the Minority Leader, Cassiel Ato Forson, the Minority criticized the Akufo-Addo-Bawumia government for not heeding the minority caucus’s advice to seek an IMF bailout earlier to get the economy back on track.
“The Minority has repeatedly admonished this government that the long-term consequences of its reckless mismanagement of Ghana’s economy by recklessly misusing borrowed funds for consumption had crystallized into a crisis. We encouraged the public authority to promptly look for the Asset’s help quite a while in the past, a call that was straight dismissed.
“The Akufo-Addo/Bawumia NPP government’s persistent denial of the true state of Ghana’s economy and their determined efforts to shift responsibility and attribute external factors to external factors have been obvious from the beginning. In spite of the relative multitude of controls of the information to conceal the genuine condition of the economy, the genuine circumstance on the ground has presumably in this way constrained them to show up at the doorsteps of the IMF like a patient in a crisis rescue vehicle, frantic for guaranteed revival.
“To say the least, the Akufo-Addo/Bawumia government, as a component of their proposition to the IMF to get this arrangement, has consented to increment utility levies like clockwork from the year before. Up until this point, since September 2022, power duties have gone up by a combined figure of 75.32% (27% in September 2022, 29.96% in the last quarter of 2022, and 18.36% a couple of days prior).
“Allow us to prepare ourselves for the full results of this IMF bargain, which will, without uncertainty, chomp hard on Ghanaians, particularly the adolescent. This isn’t an insight of sadness, yet a reality that will before long first light on us all.”
