IMF manages Ghana’s economy better – Mark Assibey-Yeboah

Mark Assibey-Yeboah, a former representative for New Juaben South, has firmly indicated that he will park the nation’s economy at the International Monetary Fund in his capacity as finance minister (IMF).

The former Chairman of the Parliament’s Finance Committee claimed that a Fund program is a better way to manage the nation’s economy in an interview with Citi TV on July 5.

IMF manages Ghana’s economy better – Mark Assibey-Yeboah

He also emphasized that borrowing through the Fund rather than the open market was more sensible for the nation.

He continued by saying that because loans taken out from the IMF bore no interest, doing so was more prudent.

“I argue that when the IMF are in town, we get things done right. If you go back to the programme we had under Atta Mills 2009 – 2012….fantastic. the macro indices at the time, the best we have seen in a longtime between 2009 and 2012. The moment the Fund left in 2012, everything went berserk. If I were Finance Minster I’ll park the economy at IMF,” Dr. Mark Assibey-Yeboah said.

“The IMF is like the Bank of Ghana to all countries…you fall on them for assistance. We borrow on a weekly basis. This Friday, there will be an auction, we will borrow about GH₵1 billion.

“Last week we borrowed. Every Friday we go for auction at the Bank of Ghana, we borrow money. We borrow at 27% [interest rate]. If you go to the Fund and they give you $1 billion, it will be interest-free…0%. They will give you a moratorium and give us 25 years to repay,” he explained further.

Akosua Boatemaa

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

Related Articles

Leave a Reply

Back to top button