The Communications Director of the New Patriotic Party (NPP), Yaw Buaben Asamoa, has admitted that the decision by the government to go to the International Monetary Fund (IMF) for a bailout is the best policy option under the current economic circumstances.
He, therefore, calls on Ghanaians to rally behind the government in the decision taken.
“That decision deserves our respect and support,” Mr Buaben Asamoa said on TV3‘s New Day on Monday, July 4.
He was speaking in the wake of the announcement last Friday that Ghana will begin negotiations with the Fund for a possible bailout.
A statement issued by the Minister of Information, Kojo Oppong Nkrumah, said a meeting of Cabinet on Wednesday, June 30 agreed that an engagement with IMF should be the route to take out of the economic hardships.
“The President of the Republic, Nana Addo Dankwa Akufo-Addo, has authorised Finance Minister Ken Ofori-Atta to commence formal engagements with the International Monetary Fund (IMF), inviting the Fund to support an economic program put together by the Government of Ghana,” the statement last Friday opened.
“This follows a telephone conversation between President and the IMF Managing Director, Miss Kristalina Georgieva, conveying Ghana’s decision to engage with the Fund.”
Mr Oppong Nkrumah further stated: “The engagement with the IMF will seek to provide balance of payment support as part of a broader effort to quicken Ghana’s build back in the face of challenges induced by the Covid-19 pandemic and, recently, the Russia-Ukraine crises.”
Mr Buaben Asamoa says the current move to go to the IMF is as a result of external factors, which can destabilise the best managers of any economy.
“Those factors can undermine you.”
By Emmanuel Kwame Amoh|3news.com|Ghana