In 2006 after HIPC, an IMF bailout, the Npp ended up selling some state assets like the Ghana telecom, onetouch/vodafone, Ghana airways, etc. They also wanted to sell VRA and ADB. After their bail out, they contracted a loan of $8.5b within 2 years of a clear slate on our foreign loans. Clearly, the signals where that, the npp could not manage this country without bail out from IMF. In fact, our kind of IMF support this time will help stabilize the Cedi, liberalize foreign exchange regime, foreign direct investments, expediting the supply of domestic gas, improving the living conditions of the people of Ghana, etc. Its not like HIPC The directive from the President says “immediate initiatives be taken to open discussions with the IMF and other Development Partners in support of our programme for stabilisation and growth.
Posted on: Mon, 04 Aug 2014 11:00:28 +0000