Debt sustainability methods not favourable — Bokpin
An Economist and Professor of Finance Godfred Alufar Bokpin says the state must invest in infrastructure to grow the economy and wane itself of consistently going to the International Monetary Fund (IMF).
Advertisement
He noted that lack of investment in infrastructure which doesn’t come as a condition for the IMF loan will lead to a vicious cycle where Ghana will continue prowling the corridors of the IMF in each cycle of change in the administration of government.
“We need to invest in infrastructure and this programme doesn’t come with that,” he noted,
He made these observations last Tuesday at the La Beach Hotel in Accra as the lead speaker at the second edition of the Graphic Business-Stanbic Bank Breakfast Meeting.
“Lack of investment in the ‘CapEx’, which is capital expenditure in infrastructure as a nation, is gravely affecting our economy and the IMF deal doesn’t cater for that,” he stated.
He advocated for a fiscal adjustment in our monetary policy by the state running a lean government and tackling corruption.
“Ghana loses more than three billion dollars through corruption, that is more than we are asking from the IMF,” he stated.
He revealed that the method chosen by the government to ensure debt sustainability as a condition for the IMF loan will impose extreme hardship on the Ghanaian and added that this can be avoidable.
Other Trending Stories
“IMF doesn’t have a single case study of a country that has transformed economically,” he stated.