IMF Loan Agreement IMF Deal Was A Mistake - Economist

Dr. Kofi Amoah has described the IMF loan agreement between government and IMF as a mistake.

  • Published: , Refreshed:
Dr Kofi Amoah, Economist play

Dr Kofi Amoah, Economist

24/7 Live - Subscribe to the Pulse Newsletter!

Dr Kofi Amoah, an Economist has described government decision to resort to the International Monetary Fund(IMF) for a bailout as a mistake.

Ghana is expecting about $940 million from the IMF over a three-year period to rescue Ghana’s ailing economy.

Dr. Amoah speaking to Citi FM believes the programme may not be beneficial to Ghanaians. His comments were made a day after the 2016 vice presidential candidate of the main opposition New Patriotic Party (NPP) Dr Mahamudu Bawumia criticised the Mahama-led administration on Tuesday for seeking refuge in the IMF when it could have avoided it.

Dr. Bawumia on Tuesday said the most significant reason Ghana resorted to the IMF for a bailout is because of unsustained borrowing and debt stock. Ghana Has Moved From HIPC To HIMIC - Bawumia Tells NDC

According to to the vice presidential candidate, however, at 67% of GDP, Ghana’s debt stock has crossed the critical 60% of GDP level that developing countries with limited access to capital flows should worry about in terms of debt sustainability.

Dr. Kofi Amoah reiterated concerns raised by Bawumia , saying “the fact of the matter is that we (Ghana) are overly indebted.”

Recommended Articles

Recommended Videos





Top Articles

1 Video Soldier detained for leaking Flagstaff House brutality videobullet
2 SONA President Akufo-Addo presents maiden State of the Nation Addressbullet
3 Assault OccupyGhana demands justice for lady stripped naked in Kumasibullet
4 State of the Nation Address Policeman heckles GTV cameraman during...bullet
5 Kejetia Assault Case 20 suspects rounded upbullet
6 Contempt of Court Governor of Bank of Ghana, 2 others cited...bullet
7 Assault Police must crack this case- Otiko Djababullet
8 State of the Nation Address Nana Addo condemns unlawful...bullet
9 Judiciary William Atuguba is acting Chief Justicebullet
10 COCOBOD Matters Government freezes Opuni’s bank accountsbullet

Top Videos

1 Video Police officer attacked at Flagstaff Housebullet
2 Meet "The Beast" President Obama's Cadillac that's more tank than carbullet
3 Obinim What happen'd when we fact checked Obinim's Bible knowledgebullet
4 Video Taxi driver terrified after an encounter with a ghostbullet
5 Refugee Ghanaian to lose fingers after 7-hour trek to cross US...bullet
6 Vitiligo Enam Honya - is challenging what you think about beautybullet
7 Watch Kumchacha delivers Counselor Lutterodt from 'demons'bullet
8 Kwame Nkrumah Interchange Water leaks from hole in wall at...bullet
9 In Zimbabwe President Mugabe’s 70 year-old aide marries...bullet
10 News On The Go NDC manifesto ready - Asiedu Nketiabullet

News