Politics

Be Responsible With IMF $600 Million – Mahama To Govt

The government should use the $600 million provided by the International Monetary Fund (IMF) as part of the bailout program, according to former president John Dramani Mahama.

The second tranche of $600 million that Ghana has received brings the total amount disbursed under the bailout program to $1.2 billion.

The Bank of Ghana (BOG) confirmed receiving the $600 million from the IMF on Tuesday, January 23, 2023. The funds are intended to assist the budget and stabilize the Ghanaian cedi.

“The National Democratic Congress (NDC) is eager and ready to address Ghana’s economic challenges and provide substantial relief to Ghanaians upon assumption of office in January 2025.  Before that, I again urge the outgoing NPP government to be cautious, responsible and judicious in utilising the IMF $600 million and other funds that may be made available to Ghana from the World Bank and other development partners,” Mr Mahama said in a post on social media.

Be Responsible With IMF $600 Million – Mahama To Govt

He continued by saying that, under normal circumstances, the $600 million that the IMF had released to the Ghanaian government should relieve some of the burdens and misery that already befell the people of Ghana.

The leader of the opposition National Democratic Congress (NDC), however, asserted that it was obvious Ghanaians would endure hardships as long as the New Patriotic Party (NPP) held power.

“Implementing VAT on electricity consumption will increase tariffs by almost 21% and exacerbate the hardship on Ghanaians. This will affect the prices of goods, services, and transport fares,” he cited as example to buttress his lost hope in the NPP government.

“I agree with organised labour that the government must reverse its decision to start collecting VAT on electricity consumption,” Mr Mahama added.

Former President John Dramani Mahama encouraged the NDC minority in parliament to ensure strict oversight on both the government and the Bank of Ghana to stifle further aggravation of the country’s already dire economic situation.

He further pledged to continue engaging ordinary citizens about his goals to rebuild the national economy and provide much needed jobs.

“On my part, I will, from time to time, continue to engage the Ghanaian public about my vision to build the Ghana we want and how we will work together to create well-paying jobs through my 24-hour economy policy and other pragmatic initiatives,” Mr Mahama said.

Akosua Boatemaa

I'm Yours Truly, Blogger Akosua Boatemaa. I'm here to feed Your eyes and Ears with Authentic News Updates.

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