IMF deal will not affect price of kenkey - Kwesi Pratt punches holes in government claims

The managing editor of the Insight Newspaper, Kwesi Pratt Jr., has called out the government for comments that suggest the IMF deal, when started, is going to reduce the high cost of living currently in the country.

He said the government is only interested in making all kinds of promises that have a temporary impact on the current economic challenges in the country.

Kwesi Pratt was speaking on Metro TV’s Good Morning Ghana and was monitored by GhanaWeb.

According to him, the coming in of the IMF deal will only manage the economic challenge for a few weeks, then revert to what it was before.

“For example, we are being told that if we cringe this IMF deal that is being suggested in May, the high cost of living is likely to come down. How is that possible…the price of kenkey will come down, the price of fish will come down?... How is this IMF deal going to change that situation? So false hopes all the time?” he asked.

“The false hopes will give you respite for a few weeks then you come to face the reality. The reality is gravy,” he added.

Kwesi Pratt added that lots of activities on the global scene are affecting the cost of living here in the country, and it requires that the government focus its attention instead of raining all kinds of promises on Ghanaians.

“If you are looking at the value of currencies and so on, now the most important thing that is happening in the global scene is the de-dollarisation program which is being pursued vigorously by Russia, China, Brazil, the BRICS… Saudi Arabia is also now pursuing a de-dollarisation programme. What will be the impact of this de-dollarisation programme on our currency, who has done any analysis,” he said.

He bemoaned the government’s haste in announcing currency stability when it has done little to merit that credit.

“A few days after Organisation of the Petroleum Exporting Countries (OPEC) have substantially cut production, government is telling us to expect petroleum prices to dip. Why is that coming from?” he questioned.



NW/OGB