Returning to IMF will not augur well for economic recovery plan, says economist

In April 2019, Ghana officially exited the International Monetary Fund’s (IMF) extended credit facility arrangement but there are fears the country may have to return to the Fund for support

An economist, Daniel Amartey Anim has cautioned the government against returning to the International Monetary Fund (IMF) for economic support.

He urged the government to continue with the current economic management program it is pursuing and expand the tax net through domestic revenue mobilization to raise the needed revenue to manage and sustain the economy.

Speaking to Beatrice Adu on The Big Bulletin, (16 November 2021) Amartey stated that “resorting to the IMF comes with additional conditionality and to me, it may not order well for an economy that is trying to recover from the impact of COVID-19 because you’ll be restricted with respect to the kind of things that you’ll be required to do to stimulate economic growth,” he said.

There have been reports that government is in the process of going to the IMF for some support to address the current pressures on revenue, rising debt stock and “troubling budget deficit.”

However, earlier this week, the finance minister debunked those claims that the government is seeking to return to the International Monetary Fund (IMF) for programme support and bailout.

Nicholas Brown

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