We are a proud nation; we will not go back to the IMF –Ofori Atta

The Minister of Finance, Mr Ken Ofori Atta has reiterated government will not go back to the International Monetary Fund (IMF) for bail out despite the countries dire financial situation at the moment.

Speaking at a Town Hall Meeting at a Tamale, the third of series of  engagement on the proposed e-levy, on Thursday, February 10, he said Ghana is a proud nation and have the resources, as well as the capacity to handle its current financial woes.

That aside, Mr Ofori Atta noted returning to the IMF will have dire consequences.

“I can tell you, as my colleague deputy said, we are not going back to the IMF, whatever we do we are not [going back]. The consequences are dire, we are a proud nation, we have the resources , we have that capacity, don’t let anybody tell you … we are not people of short-sighted, we need to move on,” Mr Ofori-Atta was reported to have said by 3new.com.

Go to the IMF

There have been series of calls to the Akufo -Addo led administration to fall on the International Monetary Fund, an international organization made up of 190 countries with the aim to among other things foster global monetary cooperation, secure financial stability and promote sustainable economic growth to address it current financial predicament.

Earlier, the Member of Parliament for New Juabeng South, Dr Mark Assibey-Yeboah called on the government to return to the IMF to save the country from its struggling economy.

“Without a doubt, I think we should be placing a call to Washington if we haven’t really done that. We are just not going to ask for the funds just because E-levy has been passed or not. E-levy will just bring about GH¢5 billion. We are in a deep hole of our tax revenue and facing difficulties, so going to the Fund will give us some support.

“So there is nothing wrong with going to the Fund.  Ghana is a member of the IMF so what is wrong going to ask for support when we are in difficulties to go and pool resources.  If I was the finance minister, I will be convincing the President that it is about time we went back,” he told Citi.

“The GH¢6.9 billion target cannot be realized. There are a lot of exemptions so, in my estimation, the maximum amount we can get from the E-levy is GH¢5 billion, and that is less than a billion dollars, so I do not think that the E-levy is going to be a panacea to our revenues. Going to the IMF will ensure some stability and above all, we are going to get some $3 billion,” the MP added.

The General Secretary of the opposition National Democratic Congress (NDC), Mr Asiedu Nketia also in a recent interview with TV3 NewDay called on the government to do same.

“I think it is something that they have to consider. if it is the only that will take us out of this problem then the earlier the better,” Asiedu Nketia said.

Source: GhanaPlus.com