Some civil society organizations in Ghana have called for the country’s debt to be cancelled, rather than an IMF loan bailing out private lenders.
In a statement released on Wednesday, July 13, the CSOs stated that any IMF loan must include debt cancellation to make Ghana’s debt sustainable.
Ghana recently entered negotiations with the IMF on a new loan. Ghana is in a debt crisis with public spending falling and high inflation caused in part by the global food and fuel crisis.
In authority of this Ohene Kinnah of Plan B Fm’s Ebanoosen had an eloquent interview with Mr Prince Obiri Yeboah a Chartered Banker and an Economist and he said that the CSO’s call is a good one but the economy of Ghana needs a fix and bailing us out of debts will not currently benefit the economy.
He added that the call is like the conditions HIPiC came with in other words but the question that needs to be answered will it seize cries in the country, will make our cedi stable etc. the best we need right now is conditions that will save Ghana’s economy.
Concluding he called on the Government to make sure their negotiations with IMF can fix Ghana’s economy.
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