Ghana should not celebrate the IMF gains – Kofi Bentil
Mr. Kofi Bentil, the Senior Vice President of IMANI Africa has sent a message warning the government and Ghanaians not to celebrate over the current economic growth under the International Monetary Fund (IMF).
His comment follows the government’s announcement to end the three (3)- year US$3 billion fund borrowed from the IMF to be pumped into the economy to stabilize it after reaching a staff-level agreement on the country’s support after reviewing it.
He argued that the economy has grown, but it lacks structural reforms.
Mr. Bentil speaking on JoyNews’ Newsfile argued that the government after ending the program should focus on building its indicators such as imports, strengthening the cedi against the US dollar, and also increasing the international reserve to boost the economy.
He further stated that the indicators should not be mistaken as a full economic recovery but ensure structures are laid to build on the economy.
He argues that the economy is now experiencing stability rather than reforms cautioning that stability can not only sustain the economy.
He stated that the IMF program brings short-term stability with strict policy and control and as a result such gains are not sustainable for economic development.
Source: Adomonline
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