27.05.2023 Headlines

We should not pay the retirement benefits of Presidents who take us to IMF – Kwame Pianim

Kwame PianimKwame Pianim
27.05.2023 LISTEN

Renowned Ghanaian economist, Kwame Pianim has argued that if government complied with the Public Finance Management Act, the country would not be faced with so many economic challenges.

Due to the economic problems facing the country, Ghana has been forced to run to the International Monetary Fund (IMF) for a bailout to save the economy from total collapse.

This is the 17th time Ghana has had to go to the IMF for help.

Concerned about the situation, Kwame Pianim has shared the view that maybe it is time Presidents who take the country to the IMF are not paid retirement benefits after serving their terms in office.

“If you are a President and you take us to the IMF, we will not pay your retirement benefits,” the Economist and successful businessman said in an interview with Joy News.

Kwame Pianim insists that there is an urgent need for the country to change how things are done to avoid the frequent return to the IMF after the current programme runs out.

“This is the time as Ghanaians we have to sit down and notice what we've been doing wrong.

“They say it's only a mad person who keeps doing the same things and expects a different result.

“We got money from COVID, what did we use it for? We have to put our cards on the table.

“The Public Finance Management Act is very clear, if we were going by it there will be no problem,” Kwame Pianim said.

Although government has sealed the $3 billion deal with the IMF, Finance experts and economists are not optimistic that it will solve the country’s economic woes.

They admit it will provide some sort of relief but are of the view that it is up to government to do things right to really turn things around.

Eric Nana Yaw Kwafo
Eric Nana Yaw Kwafo

JournalistPage: EricNanaYawKwafo