Prof Lord Mensah who is the Lecturer and an Economist at the University of Ghana Business School has warned the government of Ghana against any means and decision of falling back to the International Monetary Fund IMF for financial assistance or support in the country.
However, Prof Lord Mensah speaking in an interview on Joy FM’s Super Morning Show disclosed that the country will experience a lot of financial and economic distress and challenges should it go back to the International Monetary Fund IMF.
Though, the Lecturer and Economist at the University of Ghana Business school believe and acknowledged that it is the right means of building and improving on a robust economy he, therefore, doubts whether Ghana can comply with the stringent measures that will be enforced by the International Monetary Fund IMF.
“We’ve been to IMF before and I tell you when we go to IMF now, we’re going to expose ourselves and the communication to IMF is that we’re not disciplined enough when it comes to the management of our funds. We were at the World Bank some few years ago and they came with certain conditions and they gave us certain targets, including our budget deficit of 5% to GDP.“So when they come in a form of rescue, the peanuts they’re going to give, and the stringent economic measures they’ll put in place, I doubt the country can be able to follow. So we have to be careful how we’re running to IMF and all that”, he revealed.
Furthermore, Prof Lord Mensah expressed his gladness that, Ghana was able to come out of International Monetary Fund IMF because he thinks it has so far helped the country in so many ways further adding that, the state should try to be on its own and manage to roll out policies that will help create more jobs for its citizens.
The Lecturer and Economist at the University of Ghana Business School made this statement following the recent announcement by the Finance Minister intention to mobilise revenue through the infamous controversial e levy in the country.