Thu, 25 Jan 2024 Feature Article

IMF, Your Conditionalities Is Hurting Ghanaians

IMF, Your Conditionalities Is Hurting Ghanaians

It is unacceptable for the IMF to endorse all the regressive taxes imposed on distressed Ghanaians, meanwhile they closed their minds on government reckless dissipation of state resources on government ostentatious lifestyle.

It appears the IMF are culprits to the suffering of Ghanaians by encouraging the government to impose regressive taxes on already distressed people. This conduct of the IMF and the World Bank for not reprimanding the ruling elites extravagant lifestyle, especially the president reckless dissipation of the state resources on his ostentatious lifestyle attest to their acquiesce

It's evidently clear the IMF takes delight to accommodate governments that have mismanaged its economy with the view of running to the fund for bailouts, and that makes it very easy to prescribe draconian and regressive conditionalities which would eventually pull a lot more more citizens into poverty. The IMF and the World Bank were not worried about their prescriptions that pulled 850,000 innocent Ghanaians into poverty in 2022 and it's expected a lot more citizens are going to be dragged into the class of poverty ridden Ghanaians.

How possible a government that pride itself of having astute economist would gleefully succumb to these regressive conditionalities of the IMF, knowing very well the regressive prescriptions when administered would be an art of commiting suicide.

The ruling elites have taken the citizens for granted because we have allowed them to enrich themselves at the expense of the distressed mass of the people. Repeatedly the ruling elites continue to mismanaged the economy and find solace by entering into unholy alliance with the bretton woods institutions for approval to impose more taxes and higher adjustments in utility tariffs.

Ghanaians can no longer tolerate this impunity from the ruling class, after wastefully dissipate state resources on unproductive activities, shamelessly called on the citizenry to pay for their reckless corrupt conducts.

That deceptive conduct of the ruling class is government needs money hence the citizens must contribute to offset the mismanaged economy. It appears the ruling elites have distance themselves from the distressed plight of the citizens.

The most disturbing diatribe from some government officials is government needs money, therefore the citizens must contribute through the imposition of regressive taxes, forgetting the policies of government has already impoverished the citizens.Therefore, where are they expecting the citizens to find money to contribute for government to fund its ostentatious activities.

Mike Kalley
Sociopolitical Analyst.