First and foremost, let me state categorically that:
1. IMF was the FIRST OPTION for incompetent John Mahama in 2015 after massive borrowing to pay judgement debts and misappropriation of funds for SADA, GYEDA coupled with DUMSOR.
- IMF was never an option for Akufo-Addo’s Government during the period of COVID-19 pandemic. The Economic Management Team was able to adopt homegrown strategies to successfully handle COVID-19 Crisis without IMF bailout.
During the COVID-19 period our neighboring Countries such as Nigeria, Ivory Coast and others heavily relied on IMF emergency loans to deal with the COVID-19 situation.
- IMF became the LAST OPTION for Akufo-Addo’s Government after the combined effects of post COVID-19 and recent Russia-Ukraine War, lack of full cooperation of some Ghanaians on homegrown policy such as E-levy and deliberate sabotage of NDC’s Members of Parliament against US$1 billion syndicated loan.
Akufo-Addo’s Government only sought IMF partnership when all options have been exhausted.
However, the records of Akufo-Addo’s Government under the IMF programme before exiting in December 2018 clearly demonstrated that NPP Government is STILL the better Managers of the national economy under Crisis.
Mahama’s Government under IMF:
1. FAILED to bring down Inflation to between 11%- 12% by end of 2016 as required by IMF.
- FAILED to Increased growth rate to between 5%-6% by the end of 2016 as required by IMF.
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FAILED to Solve DUMSOR by the end of 2016 as required by IMF.
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FAILED to restore Fiscal Discipline by the end of 2016 as required by IMF.
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FAILED to restore allowances for Teachers and Nursing Trainees as demanded by the Students.
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FAILED to implement FREE SHS as wished by Ghanaian parents.
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FAILED to abolish 16 Nuisance Taxes are demanded by Traders and the business community.
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FAILED to employ graduates in the public sector as part of the conditions of IMF.
Interestingly, Akufo-Addo’s Government under IMF from 2017 SUCCESSFULLY ABLE to:
- Solved Dumsor before existing IMF.
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Abolished 16 Nuisance Taxes before exiting IMF.
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Implemented FREE SHS before exiting IMF.
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Employed 100,000 graduates under NABCO, about 60,000 under Youth in Afforestation, about 93,000 GES employees recruited and around 70,000 plus nurses were employed before existing IMF.
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Achieved inflation rate of 9.84% in 2018 before exiting IMF.
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1 District 1 Factory commenced before exiting IMF.
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Banking Sector Clean up was done before exiting IMF.
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Fiscal Discipline was Restored before exiting IMF.
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Growth rate of 8.13% and 6.2% were achieved for 2017 and 2018 respectively before exiting IMF.
Authoritatively, Akufo-Addo’s Government under IMF performed better than Mahama’s Government under IMF..us Better Managers of the Economy than the NDC Razak Kojo Opoku Writes
