The Vice President, Dr Alhaji Bawumia at long last has broken silence on the governing NPP government’ s decision to run to the IMF for a bailout. Veep Bawumia ending his speech at Accra Business School on Thursday, 14th April, 2022 explained that the decision by government to opt for an IMF program was to stabilize the economy in the midst of global crises (the COVID- 19 pandemic and the Russia Ukraine War).
A crisis which has visited untold hardships on Ghanaians with rising prices of virtually everything from fuel to bread, tomatoes, building materials and so on. In the midst of this global crisis, Dr Bawumia added that Ghana is not an Island from these problems. He claimed that government under the abled leadership of himself and President Nana Akufo Addo had managed everything perfectly until COVID- 19 and other wars broke out.
Since then Ghana’ s fiscal and debtsustainability has worsened. Even though some people are of the school of thought that COVID- 19 and Ukraine War cannot be the cause of our problems, the Vice President strongly disagrees and begs to differ. ” Before I conclude, I would like to use this opportunity to make some comments on an issue on the minds of many Ghanaians.
Some commentators and analysts have argued that COVID- 19 expenditures alone could not be the reason for the large increase in the fiscal deficit and the debt stock. In fact, they are right. COVID- 19 expenditures alone were not.
He further explained that Ghanaians can attest to the fact that we wouldn’t have needeyany IMF bailout or whatsoever if there was nothing like Russia Ukraine war or Covid-19 because NPP especially under him and His Excellency Nana Akuffo Addo has been better managers if the economy. That not withstanding, previous administration is also a reason why we are at IMF now.
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