IMF bailout not a gov’t option as Cabinet meets

Request for a bailout from the International Monetary Fund (IMF) is not an option being considered by government in finding solution to the current economic woes, has gathered.

Going to IMF for an extended credit facility (ECF) is not on the agenda of the crunch cabinet meeting at Peduase Lodge, can confirm.

There were media reports that government was caught between the Electronic Transaction Levy Bill, which has seen some stiff resistance since its announcement in November, 2021, and an IMF bailout.

This was fuelled by a tweet by Gabby Asare Otchere-Darko, a leading member of the New Patriotic Party (NPP).

But it appears government’s options are tilted towards home-grown solutions.

The discussions at the quarter’s Cabinet meeting will also largely consider the reopening of the country’s land borders after two years.

Solutions to the escalating fuel prices are also going to be considered.

Already, the Minority has sentenced the economy to doom, describing the failure of the Economic Management Team (EMT) led by Vice President Dr Mahamudu Bawumia as “legendary”.

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“This government has been a monumental failure,” said John Jinapor, the Ranking Member of the Mines and Energy Committee of Parliament, on Friday, March 18.

“We call on President Akufo-Addo to dissolve the Economic Management Team because they have not lived up to expectation. Indeed, if I were the Vice President what I would be doing is to tender in my resignation as head of the Economic Management Team.

“This performance has been abysmal. Indeed the failure of this government is legendary.”

By Emmanuel Kwame Amoh||Ghana