July 6, 2022

Covid-19, Russia-Ukraine War Impacts Reasons For Returning To IMF – MP Claims

Member of Parliament for Okaikoi Central, Hon. Patrick Boamah has claimed that the Covid-19, Russia-Ukraine war, and other factors have spiked the government’s decision to return to the International Monetary Fund (IMF).

According to him, “the country’s economy was massively and rapidly growing until the Covid-19 pandemic dismantled the perfectly arranged mechanisms put across in building the economy by the Akufo-Addo led government”.

He stated that “the recent Russia-Ukraine war, the banking sector clean ups have also hit the nation so hard and directly affected the economy. This has created the accumulation of debts and their interests rising”, he said.

Hon. Boamah stated that, before all of these menaces, the government has initiated a couple of programs that were enrolled to kick start the growth of the economy in 2019 after exiting from the IMF program but the above-said factors deteriorated the booming growth of the economy nullifying the government’s efforts.

The MP in his speech reassured the people of Ghana to exercise patience with the Akufo-Addo-led government as it enrolls structures in place to get the economy back on track.

The MP admitted that “many Ghanaians might be a little disappointed in the government for returning to the IMF for a bailout but I assure you that this government shall work hard to get the economy back on track”.

Source: Opemsuo.com/ Effah Mensah William.

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