Professor Peter Quartey, Director of the Institute for Statistical, Social and Economic Research (ISSER) of the University of Ghana has hailed the government's choice to draw in the International Monetary Fund (IMF) for a bailout notwithstanding rising financial difficulties.
He says the move is a goliath positive development, depicting it as one that is not a 'terrible choice'.
The government sent has backtracked on its demand not to return Ghana to the IMF.
President Nana Addo Dankwa Akufo-Addo has hence trained the Finance Minister to start formal commitment with the Fund for a help program - an improvement numerous financial specialists and other monetary investigators have invited.
Allow me to say that IMF is certainly not something terrible because it is the second-most ideal choice after our local arrangements. However, if that isn't going on, we want to look for help from the IMF. Thus, I don't believe it's a terrible choice", says Professor Peter Quartey on Citi TV.
He expressed worries about whether the nation dawdled before going to the Fund is unimportant.
"I fail to understand where the postponement is. The government presented various expense cutting measures and after assessment, it has understood that the income isn't coming in true to form, so it believes that we want IMF support."
He is requesting that the administration utilize the chance to seal the country's income setbacks to support financial backer certainty, given the impacts of the COVID-19 episode and the conflict between Russia and Ukraine.
"The talks will assist us with chopping down spending and take specific difficult choices to assist with resuscitating our projects without including our development targets. This time things ought to be different in light of the COVID-19 pandemic and the Russia-Ukraine war, so I expect they figure them it so a portion of the grave estimates they accompany will be formed with regards to where we wind up as an economy."
In March 2022, Ken Ofori-Atta reported that the public authority won't go to the IMF yet depend on a homegrown monetary recuperation plan, in any case, being not able to meet its development focuses with the arrangement, the public authority is presently going to the IMF for help.
The Information Ministry made sense of this choice and was taken at a gathering on June 30, 2022.
"The commitment with the IMF will look to give an equilibrium of installment support as a feature of a more extensive work to enliven Ghana's work back despite difficulties incited by the Covid-19 pandemic and, as of late, the Russia Ukraine emergencies."
Content created and supplied by: Mrrobert (via Opera News )
Opera News is a free to use platform and the views and opinions expressed herein are solely those of the author and do not represent, reflect or express the views of Opera News. Any/all written content and images displayed are provided by the blogger/author, appear herein as submitted by the blogger/author and are unedited by Opera News. Opera News does not consent to nor does it condone the posting of any content that violates the rights (including the copyrights) of any third party, nor content that may malign, inter alia, any religion, ethnic group, organization, gender, company, or individual. Opera News furthermore does not condone the use of our platform for the purposes encouraging/endorsing hate speech, violation of human rights and/or utterances of a defamatory nature. If the content contained herein violates any of your rights, including those of copyright, and/or violates any the above mentioned factors, you are requested to immediately notify us using via the following email address operanews-external(at)opera.com and/or report the article using the available reporting functionality built into our Platform See More