Veteran Journalist and Managing Editor of The Insight Newspaper, Kwesi Pratt Jnr. has expressed fear over the much sought-after IMF deal by the government.
According to the senior journalist, even though IMF assistance has been touted as the “savior” of the country by government officials, the facts about IMF bailouts do not support such claims.
Speaking on Accra-based Peace FM on Tuesday, Mr. Pratt opined that there are serious repercussions associated with the IMF bailout.
As the nation awaits the release of the $3 billion loan, Kwesi Pratt believes the deal will aggravate the plight of Ghanaians and worsen the already deteriorated economic situation rather than being a blessing to the citizenry.
He explained that the loan is purposed to settle Ghana’s debts and is expected to be repaid by the year 2026 which, to him, invariably means the country will be paying back more than it’s received.
“What’s coming is bigger than us. As a matter of fact, on the contrary, because of the IMF deal; the youth won’t find employment. Due to the IMF deal, all government interventions to cushion us are going to be removed to increase our hardships. I want someone who can boldly tell us one country that went to IMF and is financially doing well. There is none!”, he stressed.
After numerous negotiations with the IMF for a $3 billion bailout, Ghana is set to secure aid from the Fund. Ghana expects the International Monetary Fund’s board to approve the loan in May this year, Finance Minister Ken Ofori-Atta said in a presentation on Thursday.
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