Ghana's decision to enter into an economic program with the IMF, according to Johns Hopkins University Professor Steve Hanke, will not salvage the country's economy.
A financial bailout from the Bretton Woods Institution is certain to fail just like the other 17 IMF programs that Ghana has participated in, he claims.
In a July 2 tweet, Steve Hanke questioned Ghana's last-ditch effort to preserve the economy, which is in crisis and beset by a huge debt burden.
Inflation in Ghana currently stands at 49.35 percent per year." Negotiations with the International Monetary Fund (IMF) have begun as a last-ditch effort by the administration. Warning: This article contains spoilers about the 17 previous IMF plans that failed to salvage Ghana's economy.
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