Former President Kufuor’s led government by the New Patriotic Party (NPP) in 2001 decided to take the country to Highly Indebted Poor Country (HIPC), but not because his predecessor failed, Prof John Gatsi, Dean of the University of Cape Coast School of Business, has explained.
Before the NPP and Kufuor would form government in 2001, HIPC and the International Monetary Fund (IMF) had existed, and so despite the tough times Ghana had had to go through before the Kufuor-government, the National Democratic Congress-led government by the late Jerry John Rawlings decided on an alternative other than HIPC.
“The NDC then, decided on a different alternative to manage the economy. HIPC and IMF was not their decision. Now, the NPP-led government comes and it decides that its alternative to manage the economy was to go to HIPC. It’s their decision, so the argument that the NDC took Ghana to HIPC is not true,” Prof Gatsi said in the yet to be aired “The Watchman” show hosted by Efo Korsi Senyo on Vovoli TV
That the Nana Addo-led government has not gone back to the IMF to seek some financial bailout when the Covid-19 struck Ghana and the globe, Prof Gatsi said it a naked lie.
He was emphatic that Ghana’s Finance Minister applied for a US$1 billion to spend on the COVID-19.
“The Minister cannot deny that he did not submit documents to the IMF, stating reasons he thinks Ghana qualifies for that bailout.
“This is no secret this government can hide from us. It’s not bad going to the IMF but when you vilify your predecessor for going to the same institution for assistance, claiming that you are better managers of the economy and so you will never go to IMF, you dent your integrity,” the UCC Dean of School of Business argued.
He affirmed the IMF gave Ghana the US$1 billion and it would account the money spent through an audit.
The full interview will be aired on Facebook and YouTube at 8:00pm on September 1, 2021.
Don’t miss it.
Awake News / Vovoli TV
