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Business News of Saturday, 11 November 2017

Source: Ghana Crusader

IMF has never been antidote to any country’s problem – Bernard Mornah

The National Chairman for the People’s National Convention (PNC), Bernard Mornah has stated that the International Monetary Fund (IMF) has not been able to save any economy of a country across the world.

His response comes on the back of a press conference on Wednesday, 8th, November, 2017 held by the Minority in Parliament at which they proposed that government’s inability to raise the initial amount ($2.25 billion) was due to its mismanagement of the economy.

Sharing his thoughts on the Energy Sector Bond, he stated that, ”Economic policy after policy ever since Ghana subscribe to International Monetary Fund (IMF) and the World Bank Ghana has seen, what they have done is that, they gave us omnibus policy; what they have done in some country, they would bring it here and the evidence abound. IMF and World Bank have not been able to salvage any economy anywhere in the World.”

He stated that,”They will praise you for good policies that are treason and in no time you will see that the consequences on your nation are so telling.”

”So evidently the IMF has never been the solution to a nation’s difficulty. So it was at this point Gov’t of Ghana decided that may be needed policy confidence from the IMF and decide IMF gave us thumbs up in the raising of a loan from the International Community,” Bernard Mornah stated.

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