Dr Michael Ayamga-Adongo, a development economist, claims that the government’s plan to request a bailout from the International Monetary Fund (IMF) is purely a political ploy and not an actual effort to save the economy from impending collapse.
He believes that the government of President Akufo-Addo is using the IMF as an easy scapegoat because its economic policies aren’t working to strengthen the economy.
“The decision to go to IMF is a political strategy and not a genuine intention to seek help.
Government is not seeking the IMF’s help in order to achieve fiscal consolidation. Here is the bottom line.
Government‘s flagship programs apart from being revenue sinks are dysfunctional and under-performing. Free SHS is on life-support and government has openly expressed a desire to review it.
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Organized labour has indicated the intention to strike for improved wages. Unemployment is high. Government is not hiring. Government is unable to generate stable and meaningful jobs. Government cannot pay fertilizer and input suppliers so subsidy programs under the planting for food and jobs are failing and farmers are desperate.
Government is plotting to use the IMF as a scapegoat. It wants to blame the IMF for not employing, for ending fertilizer and input subsidies, for stopping free SHS and freezing wage increment. Right from day one this government has always found a way to scam Ghanaians,” he argued.
After significant deliberation, the government has decided to enlist the IMF’s assistance in order to address its balance of payment problems.
