The government of Ghana’s announcement to officially engage the International Monetary Fund (IMF) for an economic support for the country has generated ambivalence within the business community and some Ghanaians.

President Akufo-Addo last Friday, July 1st, 2022, directed the Finance Minister, Ken Ofori-Atta, to engage the IMF to “provide [a] balance of payment support as part of a broader effort to quicken Ghana’s build back in the face of challenges induced by the COVID-19 pandemic, and recently, the Russia-Ukraine crises.”

With the West African country’s net international reserves declining to $4.6 billion in April 2022, from $6.09 billion in January 2022, the situation has impacted the foreign exchange market.

However, the decision by the government to return to the Fund has triggered mixed reactions from a section of the.

Whereas some say the government’s move to engage the IMF is timely to control the country’s ballooning debt stock, others also are of the opinion that the managers of the economy have not lived up to expectations.

One of the interviewees told Joy Business “the president’s decision for us to go to the IMF is unnecessary. If we go for support from IMF, the government will squander the monies”

“I think it is good; the reason is that they have squandered all the monies and there is no way we can survive without IMF.  IMF will help us regulate the government on how to spend the money”, an opposing view said.