The Member of Parliament for Sagnarigu, Atta Issah, has called on the government to rethink its dependence on the International Monetary Fund (IMF) for economic support.
His remarks come on the back of a recent staff-level agreement between the IMF and Ghana, following the fourth review of the country’s three-year Extended Credit Facility (ECF) programme. If approved by the IMF Executive Board, the deal will unlock approximately US$370 million in financial assistance.
Speaking on Citi FM’s Eyewitness News with Umaru Sanda Amadu, Mr. Issah, a member of Parliament’s Finance Committee, voiced concern over Ghana’s recurring engagement with the IMF over the past three decades.
“I only urge that this should be the last time as a country we cede our sovereignty to external partners. We have the brains in this country. Why is it that for 17 times consecutively, every government in the last three decades has in one way or the other signed up to the IMF programme?
“And I think that it’s cause for us to reflect as a nation and to make sure that this becomes the last time we will approach the IMF again,” he suggested.
Mr. Issah acknowledged the role both the Akufo-Addo and Mahama administrations have played in managing the economy, stressing that the country’s achievements are the result of efforts across different governments.
“For me, I know that the NDC should get the credit, as well as the NPP who just left power should also get credit in terms of how we managed this IMF programme,” he stated.
The IMF, in its recent review, noted that Ghana’s economy outperformed expectations in 2024, boosted by strong performance in the mining and construction sectors. However, the Fund also raised concerns about potential fiscal slippages ahead of the upcoming general elections and delays in key structural reforms.
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