IMF bailout, a sign of failure - Akufo-Addo
 
Posted on: 2014-Aug-07        
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2012 presidential candidate of the opposition New Patriotic Party (NPP), Nana Akufo-Addo says government decision to go for a bailout from the International Monetary Fund (IMF) is a “sign of failure”.

In his view, the choice of IMF for support to revive the ailing economy is an attestation that President John Mahama is “overwhelmed” by the current economic crisis in the country.

Nana Akufo-Addo made the comment in an exclusive interview on Asempa FM’s Ekosii Sen programme Wednesday.

Government has come under intense criticism from the opposition after President Mahama announced the intent to begin discussion with the IMF for a bailout.

Economic pundits who have blamed the current economic predicament on government’s fiscal indiscipline are predicting tougher times ahead of IMF conditionalities.

But Akufo-Addo said though the harm has already been caused, government should ensure it negotiate for a pro-poor interventions.

“We want a package that will address the cost of living, reduce cost of doing business and create jobs not conditionality that will exacerbate the untoward hardships on Ghanaians” he stressed.

The NPP 2012 presidential candidate underscored the need for government to put on its thinking caps and come out with solutions to bring respite to the citizenry.

“They [government] should have the skill and determination to bring such a package to us to bring relieve to the people” he added.

Nana Akufo-Addo urged government to expedite action on implementing “measures that will get us to the goal of structural transformation of the economy”.