The Akufo-Addo government has failed
The Akufo-Addo government has failed if it needs an IMF bailout - Kennedy Agyapong
The Akufo-Addo government has failed if it needs an IMF bailout – Kennedy Agyapong
President Nana Addo Dankwa Akufo-Addo has come under fire from outspoken Assin Central constituency member Kennedy Agyapong for requesting a bailout from the IMF (IMF).
Only nations that have fallen short of expectations, according to Mr. Agyapong, approach the Bretton Woods organisation for assistance.
“During the NDC period, I said that any government that requests assistance from the IMF has failed. Do you expect me to change my mind if my government is heading to the IMF? I won’t be taken seriously by anybody. In an interview given on Saturday at the NPP’s National Delegates Conference at the Accra Sports stadium, he said, “I still stand by that, we [the NPP administration] have failed.
But Mr. Agyapong said that there are significant differences between the circumstances that caused the former Mahama administration to request an IMF program and those that led the Akufo-Addo administration to turn to the Bretton Woods organization.
“The simple fact that you visited the IMF indicates failure. However, there are differences between the IMF operating under NDC and NPP. Unfortunate circumstances under NPP led to the Covid epidemic. As if that weren’t enough, the Russia-Ukraine conflict broke out just as everything was starting to calm down. Inflation in America often ranges between one and two percent. However, today’s inflation rate in America’s 40-year history is 8.7 percent. You can know from that alone that NPP is not to blame. I’ve never seen Americans squabbling over infant formula to feed their children. Was it the circumstance when NDC led us to the IMF? No, is the response. The amount of mismanagement of the two parties contributing to the IMF-NDC is thus greater than that of the NPP, as shown by that fact alone.
Ghana’s government is requesting assistance from the IMF to help the country’s struggling economy, which is being challenged by high levels of debt, high rates of inflation, and poor income collection.
