The truth has finally dawned on the government to seek external help to avert an economic crisis in this country. According to reports, the president of the republic Nana Addo Dankwah Akuffo Addo has instructed the finance minister to open negotiations with the International Monetary Fund for a bailout program. This was contained in a statement released by the Ministry of Information. According to the release, the IMF support will provide "a balance of payment support as part of a broader effort to quicken Ghana's build-back in the face of challenges induced by the Covid-19 pandemic and recently the Russia-Ukraine crisis".
This current position of the government is in stark contrast to what they have been professing for a few weeks ago. The finance minister made us aware that an IMF bailout is dangerous for this country. We must find home-grown solutions to our problems. That was the main motivation behind the introduction of the e-levy.
I want to ask what has changed now to warrant the government seeking help from IMF? Were they not the same people against going to IMF? Is that not an exhibition of double standards? What is wrong with us? Let's call a spade a spade.
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