The Right Reverend Professor Joseph Obiri Yebaoh Mante, Moderator of the General Assembly of the Presbyterian Church of Ghana (PCG) has expressed happiness about the Government’s decision to go to the International Monetary Fund (IMF) for a bailout.
Rt. Rev. Prof. Mante, speaking to the Ghana News Agency in an interview in Tema on the government’s intention to go to IMF for the bailout said: “I am happy we are going; we should have gone a long time ago since the country was nose-diving economically.”
He indicated that even though it was good for Ghana to take care of its issues since over-dependence on foreign support was not always the way to go, sometimes “we have to swallow our pride and make the right move like asking for a bailout from the IMF.”
The Moderator said the move was not that bad as several countries were all going to the IMF for a bailout in these global hard times.
The Minister of Information on Friday announced that President Nana Addo Dankwa Akufo-Addo had authorised the Finance Minister to commence formal engagement with the IMF, inviting the Fund to support an economic programme put together by the Government of Ghana.
The statement noted that the Cabinet had indicated its support for the decision at a meeting on June 30, 2022.
The engagement with the IMF, it added would seek to provide balance of payment support as part of a broader effort to quicken Ghana’s build back in the face of challenges induced by the COVID-19 pandemic, and recently, the Russia-Ukraine crises.