This should be the last time we’re going to IMF – Mahama

• Posted on October 13, 2022October 13, 2022
• by Nana Kwesi Coomson
• Comment

Former President Mahama has called for an end to the continuous resort to the International Monetary Fund (IMF) by successive governments for economic bailout.

“Going and coming and going and coming is really. . .it creates a certain instability in the whole system and also reduces the faith that people have in our democracy.”

Mr Mahama expressed these sentiments on Wednesday, October 12, when he appeared on VOA in Washington DC in an interview on Straight Talk Africa.

He talked about a number of issues including his perennial criticism of the current administration in the management of the economy.

For him, the current government led by President Akufo-Addo is faced with by a twin-problem of ensuring macro-economic stability and debt sustainability.

Former President Mahama expressed confidence that the next National Democratic Congress (NDC) government will turn the economy around.

“One of the things we will do when we come back, that is the NDC, is to strengthen state institutions, strengthen anti-corruption institutions but most importantly look at the constitution again.

“We’ve been operating this constitution for more than 26 years and I think the time has come to look at it again and do some tweaking in order that we will have a proper constitutional environment to grow the economy.”

On the programme the current administration is seeking from the IMF, Mr Mahama admitted that the “money” from the Bretton Woods institution will definitely shore up the financial reserves.

“So, if government is able to reach accommodation with IMF which will be dependent on if they are able to reach agreement with our creditors because the debt must come to sustainable level before IMF will give you a programme.”

-3news