IMF loan will not save Ghana’s economy - US Economist

The government of Ghana's U-turn decision to meet the International Monetary Fund (IMF) for bail out is still a major topic for discussion this week.

One group feel going to the IMF is the right decision while others feel the move will not help Ghana.

An international economist from the John Hopkins University, USA, Professor Steve Hanke has said the current IMF programme Ghana want to sign will fail, according to a report filed by the BBC.

According to Professor Steve Hanke, another IMF loan will not save Ghana’s economy, 

He said just like the the past 17 IMF programmes, a new one will fail.

He also revealed that based on exchange rate data from free and black market, annual inflation rate for Ghana will be around 49.35%.

In this week's inflation table, #Ghana takes the 9th place. On June 30, I measured Ghana's #inflation at a stunning 49%/yr-almost 2x the official inflation rate of 28%/yr. pic.twitter.com/y8JfR5pVjI

— Steve Hanke (@steve_hanke) July 3, 2022

credit: BBC

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