Tony Aidoo hints of IMF return

A leading member of the National Democratic Congress has hinted that Ghana will take advantage of rescue plans offered by the International Monetary Fund (IMF).

Dr. Tony Aidoo told Joy Business News there is nothing fundamentally wrong in seeking assistance from the IMF.

The government of Ghana under the erstwhile Kufuor administration broke ties with the IMF in preference to borrowing from the financial market.

This follows a barrage of criticisms that government has been hoodwinked into accepting conditionalities proposed by the Breton Wood Institutions and which are inimical to the country’s development.

With the deepening global financial crisis, it has become difficult accessing funds from the open markets, thus making a return to the IMF a plausible option.

In a recent meeting held under the auspices of G20, consisting of some of the most powerful nations around the world, the IMF announced a $370 billion package in rapid support to needy nations.

The package, reports say, is without conditionalities. This Mr. Tony Aidoo insists offers a reprieve to Ghana’s ailing economy.

He argued that Ghana must present the IMF a credible rescue plan which they can buy into in order to support the country.

He dismissed assertions that Ghana will be constrained by the IMF conditionality, saying, with a good negotiating ability the country will be better off.

Listen to excerpts of the interview with Dr. Aidoo in the attached audio.

Story by Nathan Gadugah/Myjoyonline