The Member of Parliament for Dormaa East, Hon Paul Apraku Twum Barimah has stated that the ruling New Patriotic Party (NPP) has been honest with the people of Ghana as regards the transparent nature of its economic and financial transaction with the international Monetary Fund (IMF).
According to the lawmaker, Government’s intent for financial assistance from the International Monetary Fund clearly shows it has nothing to hide from the people of Ghana.
Hon Twum Barimah made this known in a statement on KessbenFM yesterday. He said unlike the NDC, who shyly went to the IMF, the NPP has announced the move even before heading there.
He stressed that even though the NPP government apparently vowed not to resort to IMF in times past, the current economic situation leaves them with no option but to take the necessary decisions which they are not shy of.
“Yes I have got to admit, things are now hard. It has bent but it has not broken. We are not shy about going to the IMF, in fact, we have not option, considering the global economic situation that’s why we officially announced it.
For the NDC, they never announced anything about heading to the IMF, We did not know what was really happening, they were not employing and we later found out that it was IMF conditionality” He said.
According to him Government’s ‘primary reason to the International Monetary Fund (IMF) is the COVID-19 pandemic and the Russia-Ukraine war.
It maintains that efforts by the government to put the ailing economy back on track immediately after it assumed office were hampered by what it describes as the twin crisis [Covid and Russia-Ukraine war].
COVID-19 is the primary reason. It was a global challenge…the twin crisis [also affected us], and it’s a matter that is well-known problem”.
Explaining further, Paul Twum Barimah said Ghana’s economy was performing comparatively better but was fraught with some major macroeconomic distortions, thereby throwing the economic buffers created off gear, hence the decision to seek IMF support to help improve the situation
