Foreign Affairs Minister Shirley Ayorkor Botchwey has warned that more difficult times are ahead as the country embraces austerity measures to save the collapsing economy.
Speaking on the sidelines as Ghana assumed the Presidency of the United Nations Security Council, the Foreign Affairs Minister indicated that Ghana would have to prepare for tougher times.
According to her, the country will face hard times because of an imposed IMF-guided austerity.
To her, these measures could lead to labour retrenchment and accompanying social instability or home-grown yet equally tough decisions to satisfy the markets.
“The road back to robust growth, which Ghana and a number of African countries experienced successively in the years before COVID-19 struck, is currently a choice between the devil and the deep blue sea. We have to either impose IMF-guided austerity, potentially leading to labour retrenchment and accompanying social instability, as witnessed in Argentina and elsewhere, or home-grown yet equally tough decisions to satisfy the markets and, hopefully, pave the way back to a functioning economy.”
“The harsh sacrifices required, themselves, have become a source of instability and an invitation to malign actors,” Ayorkor Botchwey said.
By: Rainbowradioonline.com/Ghana