Government may consider going to the International Monetary Fund (IMF) for a programme if the current home grown programme fails to bring the needed economic stability and restore investor confidence.
According to the Deputy Minister of Finance, Dr. John Kumah, an IMF programme will be pursued if needed.
This is coming at a time government has been criticised for failing to take the bold step of subscribing to a Fund programme to address the imbalances within the economy.
“If it [bringing the economy back to life] becomes impossible, then it is the only alternative to salvage our economy. But where we are now, we think we are in the position to salvage the economy or to try the homegrown policy we are adopting”.
“If our programmes fail us and we are not able to get the confidence and the results in the fiscal space discipline, which we have to impose on ourselves, then we don’t have a choice”, the Deputy Finance Minister stressed while interacting with George Wiafe on PM Express on Thursday.
According to him, going to the IMF is not about politics, but for COVID-19, there will not be any need for talking about going to the IMF for a programme.
“It is not about politics when it comes to the economy. But for COVID-19, there is no way we should be discussing IMF by this time”, he explained.
“When President Akufo Addo picked this economy and started growing it with an average of 7%, we saw how the economy was doing so well”, he explained.
Source: Joy Business
