IMF Not The Way Out Of Current Economic Crisis – NPP National Treasurer

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The National Treasurer of the New Patriotic Party (NPP), Kwabena Abankwa Yeboah has said he does not support the calls for the country to seek financial bailout from the International Monetary Fund (IMF) as a way of tackling the current economic crisis.

According to him, previous experiences with the IMF has shown that they do not have the right solutions for the country.

“I don’t support going to IMF, that is certainly not the way…what did we achieve when during Rawlings’ time, the IMF introduced PAMSCAD and those things…it made our economy worse…,” he opined on Angel TV’s Anɔpa Bɔfoɔ Morning Show.

Mr Abankwa-Yeboah further urged the managers of the economy to try other possible means of salvaging the country from the recent economic mess instead of approaching the Bretton Woods Institution for help.

“I don’t think we need to go to the IMF, we need to look at all options…,” he added.

A leading member of the NPP, Gabby Asare Otchere-Darko, started the debate on the country going to IMF for the 17th time when he said he is not against the government seeking economic support from the institution.

According to him, any move or plan by the government to go to the IMF for a programme would be a matter of principle.

“Am I against an IMF programme in principle? No. I am not for an IMF programme that throws peanuts at us but imposes conditions that will end up hurting the poor, jobs and businesses more.

“Covid-19 and War in Ukraine are not of Africa’s doing, but more to our doom. A programme that pretends it is all our doing is doomed to fail,” he tweeted on Monday, June 2