The negative impact of the coronavirus pandemic as well as the ongoing Russia-Ukraine war on global economies should not be underestimated, Member of Parliament for Bortianor-Ngleshie Amanfro, Sylvester Mathew Tetteh, has said.
He said this while justifying the decision by the government to go to the International Monetary Fund (IMF) for support, on TV3’s New Day show with Johnnie Hughes Tuesday July 5.
Mr Tetteh said the main opposition National Democratic Congress (NDC) have the right to taunt the government for going to the IMF when it said in the past that it won’t.
But the fact is, he said, the world is not in normal times hence, every country is finding avenues to survive.
“For me, the back and forth about the IMF doesn’t solve the problems. I have said the NDC has the right to score political point with respect to our position when they went to IMF. For me, politically I give it all to them.
“Going to IMF is not a crime, we are a member of the IMF, I have said that on may occasions. So, for me, to the NDC, they have the bragging right to say that we said were not going to the IMF and today you are in the IMF. On the surface of it, they have the right to brag with it .”
He added “We are back to the IMF because we are not in normal times, nobody should downplay the effect of Covid 1-9 and then Russia-Ukraine war.”
The Government on Friday July 1 announced that it was seeking support from the IMF.
The Ministry of Finance has announced in a statement that the delegation from the IMF is scheduled to arrive in Accra, today Tuesday July 5.
Subsequent to the directive by the President of the Republic of Ghana, the Ministry said it has commenced engagement with the the Fund to support Ghana’s economic programme.
“Pursuant to this, a delegation from the Fund is scheduled to arrive in Accra on Tuesday 5th July, 2022, to commence in-person meetings with the Government of Ghana on Wednesday 6th July, 2022.