Franklin Cudjoe Disclosed What Actually Led Ghana To Request IMF Assistance.
Ghana has requested and is engaging the IMF (International Monetary Fund) for assistance to manage the country’s economy against the Government’s agenda of Ghana Beyond Aid. The Government of Ghana has just exited an IMF program in the year 2019, more than two (2) years after it assumed office, only to return to the same IMF within about three (3) years after its exit from the IMF program.
Though there is confusion and political spin as to the very reason Ghana is back to the IMF in such a short space of time, Franklin Cudjoe, the CEO of IMANI Africa, has cited a report that was launched in June 2022, as the reason Ghana is possibly back on a re-union mission with IMF program.
A short statement on Franklin Cudjoe’s Facebook indicated ‘just in case you forgot a major reason we got to the IMF, here is a report launched last month. Financial irregularities of Ministries, Departments and Agencies (MDAs) cost the country about Ghc13.94 billion between the years 2015 and 2020, compared to the Ghc1.42 billion combined irregularities of MDAs between the years 2010 and 2014. The financial cost of MDA’s fiscal indiscipline has increased more than 13 times in the last five (5) years.’
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The IMANI boss hinted ‘ the IMF will insist this must end’ probably in a subtle way of informing the IMF to insist on cutting such waste.
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