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01.07.2022 General News

IMF a stop-gap measure, not permanent solution to revive Ghana's economy — Kennedy Nyarko Osei

By Richard Obeng Bediako || Contributor
IMF a stop-gap measure, not permanent solution to revive Ghana's economy — Kennedy Nyarko Osei
01.07.2022 LISTEN

The Member of Parliament for Akim Swedru, Kennedy Nyarko Osei, has indicated that the International Monetary Fund (IMF) programme will help restore Ghana's ailing economy faster.

According to him, the IMF program is only a stop-gap measure and not a permanent solution to Ghana's economic problems.

He averred that this is not the first time Ghana is seeking assistance from the IMF.

This follows a directive by President Akufo-Addo to the Finance Minister, Ken Ofori-Atta on Friday to initiate discussions with the IMF for support.

Mr Nyarko-Osei explained the rationale behind the government’s latest decision.

"IMF support is only a stop-gap measure and not a permanent solution to our economic problems or challenges as country or continent. Whilst it's good to seek temporary support from the IMF as a contributing member lets as a country also be prepared and conscious in developing our own local economic policies and measures to end this over 56 years of dependence on the IMF.

"One thing we have to know as people or continent is that our economic problems can never be solved by the IMF. The solution to our economic problems are with us as a country or a continent. What we should know is that if we are not able to deal with this situation collectively as a people then we should not a mistake in thinking that someone else has a magic wand to end these cyclical problems.

"Though I am on break here I thought I should put this issue in perspective for a sober reflection," the lawmaker wrote this on his Facebook page.

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