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Kwesi Pratt Jnr., the Editor-in-Chief of the Insight newspaper, has stated that the $3 billion bailout sought by the Ghanaian government from the International Monetary Fund (IMF) will not bring down the price of kenkey in the market or improve the living conditions of Ghanaians.
He believes that while the IMF deal may help to clear the country’s debt, it will not reduce the hardships faced by ordinary citizens. He argues that even if the debt is paid off, commodities such as Kenkey, electricity bills, and transport fares may remain the same.
The Finance Minister and his team are currently in Washington DC to push for the IMF board’s approval of the bailout, which Ghana seeks due to its default in servicing its debt last year.
President Nana Addo Dankwa Akufo-Addo has expressed optimism that the country will secure the financial assistance by March 2023 and has stressed the need for other creditors to support the government’s efforts in restructuring the country’s external and domestic debts to enable the deal to materialize quickly.
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Source: Omanghana.com/SP
