Former Speaker of Parliament, Professor Aaron Mike Oquaye, has stated that Ghana’s repeated engagements with the International Monetary Fund (IMF) have yielded little to no lasting economic benefit.
He made the remarks when speaking at the Institute of Economic Affairs (IEA) Policy Dialogue Series on Ghana’s Natural Resource Management.
In his view, successive IMF programmes have failed to bring the desired economic recovery Ghana has pursued.
He argued that our reliance on IMF prescriptions over the decades has not produced sustainable growth but has instead imposed restrictive policies that weaken innovation and limit the government’s fiscal flexibility.
Prof. Oquaye underscored the need for Ghana to use homegrown solutions in addressing its economic challenges instead of always relying on the IMF.
“The IMF Programme has not done us any good. IMF cannot save us. After two or three visits, if there was any succour in these programmes, we would have noticed by now and we would have been healed,” he asserted.
“If we seriously come to understand that this is a no-go area, we will begin to ask ourselves, what do we do? Is it by looking at our gold, oil, diamond?” he asked.
By: Rainbowradioonline.com/Ghana
