17. August 2022

IMF Bailout: We Won’t Apologize – Buaben Asamoah To Ghanaians


National Director of Communications for the New Patriotic Party (NPP) Yaw Buaben Asamoa, has said that there is no need for government to apologize to Ghanaians over the decision to go into International Monetary Fund (IMF) for a bailout.

In an interview on Accra based Tv station [Tv3], the Communications Director explained that the country has indeed reached a fork in the road, with several options available but the best and most useful of them would be returning to the IMF, as proper management would yield better and different results than in previous years.

“It is true that we are being forced to eat our words in public at this point, but there is no shame in that. It would be shameless to admit that the government decided to go to the IMF because our country’s economy has hit a stumbling block,” he said.
Mr Buaben Asamoa went on to say that the circumstances surrounding the government’s decision to go to the IMF are completely different and not as bizarre as when the previous government’s incompetence drove it straight to the IMF.

I must state that the conditions are completely different from before, he added. In our case, a global crisis is impeding production, supply, and global trade in general. I don’t see how the current can be blamed if the situation is beyond our control. The decision to engage with the IMF again is our best bet.”
The NPP Communications Director concluded his statement by saying that the opposition, National Democratic Congress (NDC), is attempting to divert Ghanaians’ attention away from the need for an IMF bailout and toward statements made years ago criticizing the same bailout.

On social media, the only thing you see is the NDC going back to retweet and hashtag specific posts from senior NPP members saying an IMF bailout was not the best option. The fact remains that the country requires the bailout, and this government will borrow and use the funds wisely so as not to negatively impact Ghanaians’ lives. The NDC, by returning our words to us, is unnecessary,” he concluded.

Ghana has officially contacted the International Monetary Fund to seek financial support.

In a statement, President Akufo-Addo, said he had authorized Finance Minister Ken Ofori-Atta to commence formal engagements with the International Monetary Fund (IMF), inviting the Fund to support an economic program put together by the Government of Ghana.

The statement added that this followed a telephone conversation between the President and the IMF Managing Director, Miss Kristalina Georgieva, conveying Ghana’s decision to engage with the Fund.

credit: ghanawish.com

About us

Omanghana brings you all the latest news from Ghana including politics, sports, entertainment and much more.