Kwesi Pratt Jr., the Managing Editor of Insight Newspaper, has stated that after Ghana receives financial aid from the International Monetary Fund (IMF), there will be more economic hardship.
He believes that no country has ever been able to recover economically after seeking assistance from the IMF. Pratt argues that the conditions attached to the bailout will worsen Ghana’s current economic crisis, citing past examples of subsidies being withdrawn from social services, leading to a lack of access to medical care.
He questions how the country can move forward when the IMF imposes restrictions on public employment.
However, Senyo Hosi, the Convener of the Individual Bondholders Forum, believes that the government’s debt exchange program is a good deal and should be supported.
The IMF boss also encourages support for Ghana, acknowledging the country’s sound macroeconomic management track record, while labor unions criticize the government for not prioritizing stakeholder consultations.