IMF programmes only affect ordinary Ghanaians not govt appointees – Economist

An economist has called on Ghanaians to vehemently reject any attempt by the government to seek the assistance of the International Monetary Fund (IMF) in the wake of Ghana’s collapsing economy.

According to Mr Yaw Modey, another IMF policy will not serve the interest of the ordinary Ghanaian.

He argued that an IMF programme will aggravate the current hardships Ghanaians are going through.

”Another IMF programme will not affect the government appointees wallowing in the wanton dissipation of the state resources but the ordinary Ghanaian,” he averred.

He said if another IMF policy is operational, it will lead to retrenchment of the ordinary Ghanaian worker in the public and civil service.

“While the policy will call for the retrenchment of workers, the government appointees will still be at post to enjoy the largess that comes with their office,” he noted.

He was categorical that it was an IMF policy under former President John Dramani Mahama that led the party into opposition because the policy conditionalities affected the ordinary man.

“If you are a Ghanaian and you accept another IMF programme, remember that your brother, who is working in the public or civil service, will soon go home,” he warned.

Mr Modey said these on Accra100.5FM’s evening news on Thursday, 17 March 2022 in reaction to a tweet by Danquah Institute founder Gabby Asare Otchere-Darko in which he called for a national debate on whether Ghanaians wanted a return to the IMF or E-levy or both or none.

He argued that what the government must do to save itself from the current situation is to rationalise its expenditure patterns.

He was of the view that there are about 80 ministers with deputies in the system some of whom are useless.

“We have 16 administrative regions, some of them are useless and must be scrapped to save money for the government instead of going to the IMF.”

He called on the government to cut the number of appointees at the presidency.