According to former president John Dramani Mahama, the budget for the Presidency should be reduced when the country requests help from the International Monetary Fund (IMF).
The highest office in the land, according to Mr. Mahama, should “show the way.”
On Wednesday, October 12, he was speaking during an interview with VOA Africa.
“Everyone must be ready to make a sacrifice if the President himself is slashing the budget of government apparatus.”
Additionally, he emphasized that the nation could not keep relying on the Breton Woods Institution for such assistance.
He contends that youth empowerment and economic transformation strategies developed at home must be put into practice.
IMF funding, Mr. Mahama continued, won’t solve every economic problem since Ghana won’t have enough credibility on its own.
“You can implement a home-grown fiscal consolidated policy, but unfortunately, a lot of local and foreign investors will probably doubt that you can live by the promises that you make unless you have an institution like the IMF working with you.”
After the conclusion of the discussions regarding Fund assistance to the country, IMF representatives ended their second visit to Ghana on Monday.
Discussions centered on economic expansion and potential financial aid for Ghana following the Covid.
The IMF is currently attempting to determine if Ghana’s debt is sustainable.