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Business News of Wednesday, 17 January 2018


Mahama’s fiscal indiscipline took Ghana to IMF – Akufo-Addo

President Akufo-Addo has rebuffed claims that the numerous social intervention programmes being undertaken by his administration may leave a debt burden that will take Ghana back to the International Monetary Fund (IMF), when the current programme with the Fund ends.

The President is hopeful the fiscal discipline measures embarked on by the government’s Economic Management Team will enable Ghana to make prudence use of the country’s natural resources.

Government has embarked on a number of programmes in an attempt to bring some relief to Ghanaians burdened by a number of economic commitments.

Some of the major programmes include; Free Senior High School, Planting for Food and Jobs, One-District, One-Factory, One-Village One-Dam, One-constituency One-million dollars, among others

Reacting to a question in his second encounter with some selected journalist at the Flagstaff House today, [Wednesday], Nana Akufo-Addo explained that, unlike his government, the erstwhile John Mahama administration was not fiscally disciplined.

“My view is that if they [Mahama administration] had been more disciplined in the management of the public finances, we will not have had to recourse to the IMF in 2013 like we did,” he criticized.

According to him, there had not been a case of mismanagement of state resources by his administration so far due to the fiscal and monetary discipline being enforced by the government.

“The most important aspect of it is the discipline that government and the people of the country are prepared to undergo. That will be the best indication as to your capacity to continue, or whether you need to rush to Washington for a bailout”.

He maintained that Ghana will not need to go back to the IMF for a bailout if managers of the economy are prudent with the use of public funds.

He stated that the IMF merely holds government to a system that will prevent budget overruns and overspending.

Nana Akufo-Addo was of the view that with the right people, Ghana can implement all its major social intervention programmes to bring relief to Ghanaians while the country’s resources are prudently used.