The International Monetary Fund; widely called the IMF; is a world organization consisting of 189 member countries.
The Organization works by fostering global monetary cooperation, securing financial stability, facilitating international trade, promoting high employment and sustainable economic growth, and reducing poverty around the world.
Since its commencement in December 1945, the IMF has functioned efficiently; by executing its three critical missions, which includes; furthering international monetary cooperation, encouraging the expansion of trade and economic growth, and discouraging policies that would harm nation’s prosperity.
Ghana; being a member, has also over the years benefited from the IMF; and currently, the Nana Addo-Bawumia government, is still in the process; working towards getting some $3 billion dollar help from the organization.
In the current process, the International Monetary Fund (IMF) team is led by Stéphane Roudet; whiles the Ghanaians team is led by the Finance Minister Ken Ofori-Atta.
As it stands now, there are many doubts, that the IMF is very likely to decline Ghana’s request for a financial support. The reason hinted by many experts is that, the Nana Addo Bawumia and Ken Ofori Atta government lacks transparency and credibility.
Again; in my views, the Ghana government’s loan request from the IMF will surely be rejected because of these two main reasons.
First; Ken Ofori Atta during the days of the Electronic Levy (E-levy) bill ‘struggle’ said; the government chose the E-levy bill over IMF because the conditions surrounding the IMF programme are disastrous to the nation.
Ken Ofori Atta made it clear to Ghanaians, that, Ghana will never go for IMF support ‘today or tomorrow’; and that, he personally doesn’t believe in the IMF program.
If Ghana’s Finance Minister-Ken Ofori once said he has no believe in the IMF; and the same is today leading Ghana’s team to the IMF…which positive result are we as a country expecting from IMF?
The second hidden reason why the IMF is very likely to reject Ghana’s loan request can be traced to non-credibility and non-transparency in the Nana Addo-Bawumia and Ken Ofori Atta’s government.
In their latest claims, the International Monetary Fund (IMF), after negotiations with the Ghana government, the IMF hinted that, the ongoing problems facing the Ghanaian’s economy, and the general hardship hitting Ghanaians; is largely caused by some internal factors including mismanagement, corruptions and so on.
In relation to that, the World Bank has also said; that the Ghanaian government (under the leadership of the Nana Addo-Bawumia and Ken Ofori Atta), has not been able to account for all the monies given to Ghana.
Considering all these hidden reasons… which world organizations in its ‘right senses’ will continue to give this Nana Addo government money as a loan? None.
—CornerNewsUpdate—
