There is nothing wrong going to IMF – Amewu

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There is nothing wrong with the decision by the government to go to the International Monetary Fund (IMF), Minister of Railways Development, John Peter Amewu has said.

He stated that the conditions that have resulted in the country heading to the Fund are not the doing of government rather, they are global issues.

“If you go to the IMF there is nothing wrong. I don’t think [the Finance Minister Ken Ofori-Atta] has erred at all. It is about the expected projections and what has happened for us to go to the IMF,” he told TV3 in an interview on Tuesday July 5.

He was reacting to the criticism that Mr Ofori-Atta suffered following the decision by the government to head to the IMF for support despite repeated assurances by him that the country would not go to the Fund.

“This Finance Minister has been one of the best brains so far, everybody can attest to the fact,” Mr Amewu who is also lawmaker for Hohoe told TV3’s Paa Kwesi Asare.

When his attention was drawn to the fact that Mr Ofori-Atta has been borrowing, he said “What is wrong with borrowing? If you borrow for a good reason there is nothing wrong, when you borrow for consumption, that is when you have a problem.

“The infrastructural development that we are seeing today, it is part of the borrowing and we are borrowing for good reason. These projects as have clearly demonstrated, are bankable projects, so if you borrow to finance a bankable project that has shown all elements of bankability, I don’t think there is anything wrong about it.

“The Finance Minister has done extremely well and I think that so far he has been one of the best Finance Ministers we have seen in the Fourth Republic.”

By Laud Nartey||Ghana

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