Former Finance Minister, Seth Terkper has urged government to come out with alternative policies and programs that will support Ghana’s ailing economy, since it insists on not going to the International Monetary Fund (IMF) for support.
Finance Minister, Ken Ofori-Atta, last week reiterated government’s stance on not seeking a bailout from the IMF, saying government will consider home-grown solutions to deal with the difficulties because the country has what it takes to recover from the issues facing the economy.
But responding to a question by Citi Business News in a zoom interaction, Mr. Terkper noted that it is important that government accepts the situation the country finds itself in, and also considers talking to the Bretton Woods institution.
“I have had a position on the need for us to be pragmatic, accept where we are and have discussions with the IMF. But I’ve also said, that for me is mutinous, because government insists on not going to the IMF. So my point now is, give us the alternative. When we contemplated not going to the IMF, we came out with a home-grown solution.”
“Your insistence on not going to the IMF is dependent on you having your own solutions to your problems. So my short answer is give us the alternative, the economy is ailing,” he added.