Speaking at a forum in Accra, Mahama said IMF programs come with fiscal consolidation and an emphasis on fiscal discipline, which can lead to some recovery and downturns. improvements on the macroeconomic front.
“In recent days, some actors in the regime have been talking about a potential or imminent IMF program. Due to the nature and depth of our economic problems, this government has virtually no other sustainable option.
“IMF programs are accompanied by fiscal consolidation and an emphasis on fiscal discipline, which can lead to some recovery and improvements on the macroeconomic front.”
“However, this government has mismanaged our economy so badly and left it in such terrible shape that fiscal consolidation alone will not do the trick,” he added.
On Monday June 27, the leader of the ruling New Patriotic Party (NPP), Gabby Otchere Darko, said that in principle he was not against the IMF program.
Gabby explained that he is not for an IMF program that gives peanuts to the country but imposes conditions that will end up hurting the poor, jobs and businesses more.
In a series of tweets, he said: “Am I against an IMF program in principle? Nope”
“I am not for an IMF program that throws peanuts at us but imposes conditions that will end up hurting the poor, jobs and businesses more. Covid-19 and the war in Ukraine are not Africa’s fault but rather our loss. A program that claims that’s all we do is doomed to failure.