Matters Arising

Ghana’s economy won’t collapse without IMF deal

1 Mins read

Ghana’s economy won’t collapse without IMF deal – Gatsi to Ofori-Atta

The Dean of the University of Cape Coast Business School (UCCBS), Prof. John Gatsi says nothing shows that the Ghanaian economy will crash without securing an International Monetary Fund bailout.

His comment comes on the back of Finance Minister, Ken Ofori-Atta saying that without the participation of identified groups for the Domestic Debt Exchange Program Ghana’s economy will collapse.

According to him, the deadline for the program which elapses on Tuesday will not be extended, and hopes that all stakeholders will participate.

Commenting on the deadline of the DDEP on Morning Starr with Francis Abban, Mr. Gasti stated the Finance Minister is painting a picture as if the nation is at war hence everybody should sacrifice.

“The debt exchange should be done in a manner that will reflect the individual, so if the individual says look, the bond that I had is just 5,000 and the interest on it, that is what I use to take care of my medical bill even with the individual bondholders there are degrees there are people with huge sums of money and people without huge sums of money.

“The finance minister could do the targeting but it is as if the principle is that everybody should contribute. That is what they rejected and we cannot force them because we felt it is voluntary and we cannot pay for it,” Mr. Gatsi explained.

He continued: “Now, we are saying that if they don’t get the IMF deal in March the economy will collapse, collapse how? Because there is nothing in the government arrangement that shows that we are in a dire economic situation and that if we don’t sign the IMF deal by March we will collapse. The expenditure arrangements do not reflect that.”

See also  ‘Ken Ofori-Atta has been very disappointing as Finance Minister’

 

 

Source: Starrfm.com.gh

Related posts
AmericaAsiaBusinessChinaGlobal 360Matters Arising

Report Shows 4.3% YoY Decline in US Exports to China in 2023 Amid Trade Turmoil

2 Mins read
Report Shows 4.3% YoY Decline in US Exports to China in 2023 Amid Trade Turmoil Led by a decline in agricultural goods and semiconductor shipments, the…
Matters Arising

KPMG Takes Bold Step in Crime Reduction by Hiring Former Prisoners

1 Mins read
KPMG Takes Bold Step in Crime Reduction by Hiring Former Prisoners One of Britain’s Big Four accountancy firms is hiring former prisoners…
Matters ArisingTechnology

Microsoft Bars Employee Access to Perplexity AI, Impacting Azure OpenAI's Major Customers

1 Mins read
Microsoft Bars Employee Access to Perplexity AI, Impacting Azure OpenAI’s Major Customers Microsoft is blocking employee access to Perplexity AI, one of the…

Leave a Reply

Your email address will not be published. Required fields are marked *