Government may consider going to the International Monetary Fund (IMF) for a programme if the current home grown programme fails to bring the needed economic stability and restore investor confidence.
According to the Deputy Minister of Finance, Dr. John Kumah, an IMF programme will be pursued if needed.
This is coming at a time government has been criticised for failing to take the bold step of subscribing to a Fund programme to address the imbalances within the economy.
“If it [bringing the economy back to life] becomes impossible, then it is the only alternative to salvage our economy. But where we are now, we think we are in the position to salvage the economy or to try the homegrown policy we are adopting”.
“If our programmes fail us and we are not able to get the confidence and the results in the fiscal space discipline, which we have to impose on ourselves, then we don't have a choice”, the Deputy Finance Minister stressed while interacting with George Wiafe on PM Express on Thursday.
According to him, going to the IMF is not about politics, but for COVID-19, there will not be any need for talking about going to the IMF for a programme.
“It is not about politics when it comes to the economy. But for COVID-19, there is no way we should be discussing IMF by this time”, he explained.
“When President Akufo Addo picked this economy and started growing it with an average of 7%, we saw how the economy was doing so well”, he explained.
Latest Stories
-
Filth Exhibition: Residents near Korle Gonno bear the brunt of nationwide filth
5 mins -
We’ve not selected NPP members as returning officers – EC replies Mahama
23 mins -
We’ll not honour any invitation – ECG tells Ashanti Regional Minister
48 mins -
Dumsor vigil to hit Accra
53 mins -
Supreme Court rule for dual citizens to hold other key positions laudable – Kwaku Asare
1 hour -
‘No one is above the law’ – CAF president on match-fixing allegations against Samuel Eto’o
1 hour -
Manchester City thrash Brighton to go second in table
2 hours -
NDC’s running-mate speech proves readiness to lead – Asah-Asante
2 hours -
Further win for nibima as another KNUST study supports medicinal prowess
2 hours -
World Bank’s food price index eases; maize, wheat prices hit 3-year low
3 hours -
2020 polls all about pulling Ghana back from precipice of destruction, corruption – Naana Jane
3 hours -
Guru expresses interest in contesting SRC election at UG
4 hours -
Oil prices projected to average $84 in 2024 – World Bank
4 hours -
Meet 2 Ghanaian entrepreneurs on a mission to connect 1m African professionals to global companies by 2034
4 hours -
NCA approves Starlink’s satellite broadband application
4 hours