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The Country Director for the International Monetary Fund (IMF), Dr. Albert Touna Mama, says it is out of line for anybody to recommend that Ghana has nothing to show for its numerous projects with the IMF.
As per him, the nation can’t be said to have deteriorated all through its different projects with the IMF as the asset has just been working reliably to assist nations as far as funds to manage explicit issues.
Talking on the Point of View with Bernard Avle on Citi TV on Monday, Dr. Touna Mama said such cases that IMF programs have not made Ghana any better depend on wrong suspicions about crafted by the IMF, adding that it goes to likewise cause strategy producers not to perceive the significant and better help the IMF can give.
“It is established in the misguided judgment about what our job is. It is deplorable in light of the fact that it corners strategy creators into not considering a truly reasonable choice. It is extremely out of line to say Ghana has nothing to show for having existing projects,” he expressed.
The IMF Country Director’s remark returns on the of calls by Finance and Economics Lecturer, Professor Godfred Bokpin to the public authority against rushing to the IMF for a financial recuperation program.
Prof. Bokpin said in a Joy News meet that, “I think others have recommended that we need a program to eagerly decrease the shortage as far as financial union. I have an alternate view really. Any choice to go to the IMF should be completely investigated. We’ve been to the asset multiple times, what do we need to show for? What shows that the seventeenth time will convey an alternate result on a more feasible premise?”
Yet, as indicated by Dr. Touna Mama, while the entirety of Ghana’s financial development inside the time of its projects with the IMF can’t be ascribed to those particular projects, it has not aggravate the nation all things considered.
“I don’t know that this nation has deteriorated for a very long time. I’m not really contending that the asset is the justification the development, yet it didn’t hurt that development. The Fund is here for an explanation, and it is particularly for circumstances like the one you are in now where nations due to COVID-19 face troublesome possibility at any rate from the financial side,” he expressed.
He said the IMF keeps on offering less expensive financing to numerous nations and stays a feasible alternative.
While recognizing that the IMF doesn’t control nations on what to do, he said it has exacting requirements that incorporate the country’s large scale financial status.
“We don’t claim to come and tackle everything, except the social spending is basic. Our capacity isn’t to choose where to contribute and how to make the nation develop,” he focused.