The Member of Parliament for Anyaa-Sowutuom constituency, Dr. Dickson Adomako Kissi has said Ghana’s economy cannot be independent of the IMF anytime soon.
He indicated that Ghana was still a baby economy.
Joining the discussion on Joy News’ ‘AM Show’ today, he noted that the Finance Minister had attempted to run the economy independently without going to the IMF but unfortunately the country has found its way back to the IMFs door.
According to him, it was time the country faced the reality that it cannot be independent of the IMF.
“In the interim, in the foreseeable ten to fifteen years it’s not going to be possible. We toyed with the idea. Let me put it quite frankly, the Finance Minister toyed with the idea of Ghana running off IMF and look at where we are and I think that we are a baby economy, baby democratic institution; we have to face the reality, it takes time,” he said in response to the hosts question on Ghana’s several IMF moves.
According to him, the way forward was the conscious effort of government to cut expenditure.
“I think that one, our President by all means has to do some adjustments in terms of government expenditure, that one whether we like it or not that’s the reality. The revenues are not coming just like the shortfalls from E-levy and all other governmental programmes, which we were thinking will rake in some revenue. If it’s not coming; without money you can’t do anything,”he intimated.
Source: Modern Ghana