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Government can't be blamed for IMF bailout – NPP Group

NPP News Government can't be blamed for IMF bailout – NPP Group
JUL 3, 2022 LISTEN

The NPP National Advocacy Association of Ghana, a group associated with the ruling New Patriotic Party (NPP), says the Government cannot be blamed for its decision to engage the International Monetary Fund (IMF) for a bailout.

The Association said the move had become necessary in the wake of the seeming global economic crisis that had reversed the positive gains recorded by the Akufo-Addo Government in recent years.

In a statement signed by the Association's National Secretary, Dr Michael Kojo Kyeremateng, and shared with the Ghana News Agency, it accused the National Democratic Congress (NDC) of “frustrating” the passage of the E-Levy, which was intended to shore up Government's revenue in a bid to revive the economy.

It said the NDC lacked the moral right to criticise the Government's engagement with the IMF, saying that the Government's inability to realise the revenue targets from the E-Levy was as a result of the opposition's campaign against it.

“In the quest to get the economy back on its feet, the Government introduced the E- Levy, which was and is the only remedy to help Ghanaian economy bounce back.

The Association urged the citizenry to support the Government's decision to seek IMF support as it was in the interest of the nation.

“We advise and encourage Ghanaians to think through this and see the works of the opposition against the E- Levy to its success, making the NDC to push for their agenda.

“Politics that affect good policies should not be accepted by Ghanaians,” it said.

The Ministry of Information on Friday, July 1, 2022, announced that President Nana Addo Dankwa Akufo-Addo, had authorised the Minister of Finance, Ken Ofori-Atta, to commence formal engagements with the IMF, inviting the Fund to support an economic programme put together by the government of Ghana.

A statement issued by the Minister of Information, Kojo Oppong Nkrumah, said: “this follows a telephone conversation between the President and the IMF Managing Director, Miss Kristalina Georgieva, conveying Ghana's decision to engage with the Fund.

"At a meeting on June 30th, 2022, cabinet indicated its support for the decision," the statement said.

"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,” it added.

GNA

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