IMF is bogus not to have known NACAP exist merely by name – Prof Gyampo

A Senior Political Science Lecturer at the University of Ghana, Professor Ransford Gyampo has criticized the International Monetary Fund's (IMF) apparent lack of knowledge about Ghana's National Anti-Corruption Action Plan (NACAP).

He does not believe why a respected body like that will recommend the continuation of the policy that has never been useful in its recent 3 billion dollar loan agreement with Ghana.

In a Facebook post on Wednesday, May 24, Prof. Gyampo wrote: "the talk about the continuous implementation of a National Anti Corruption Action Plan (NACAP) that exists merely in name by the document, shows that the IMF perhaps is no longer a serious institution.”

“This is because it doesn’t appear there will ever be serious efforts at implementing the NACAP and an IMF that does not know this is bogus,” he added.

He argued that "an IMF that fails to tell Ghana nothing but the truth so we (the nation) can wiggle ourselves out of imposed and our self-inflicted hardships...will deepen the derogatory, (but sometimes deserving) PERCEPTION that reduces it to a spineless organization, staffed by cowards, praise singers and fun-fool respecters of failed African leaders.”

The political commentator criticized some of the IMF recommendations, questioning whether "this a truly well negotiated IMF deal" and adding that "it appears the IMF of yesteryears, is no longer the IMF we see today."

The new $3 billion bailout, approved recently for the country, has certain conditions such as achieving a primary surplus target, energy sector reforms, strengthening state-owned enterprises and implementing structural reforms at Ghana's cocoa marketing board.