Chief Operations Officer at the Dalex Finance, Mr Joe Jackson has disagreed with assertion by a Professor of Applied Economics at the Johns Hopkins University, Steve H. Hanke that another International Monetary Fund (IMF) programme in Ghana will fail.
Following the announcement by the Government of Ghana on Friday July 1 that the country was heading to the IMF for support, Prof Hanke in a tweet stated that the programme will fail in the Ghanaian economy just like the previous 17 under the Fund.
“Today, I measure inflation in Ghana at a stunning 49.35%/yr. In a last ditch effort, the government has begun negotiations w/ the IMF on a bailout deal. SPOILER ALERT: Another IMF loan won’t save Ghana’s economy.
“Like its past 17 IMF programs, a new one will fail,” he tweeted.
However, Mr Joe Jackson also said in a tweet while responding to him that “I disagree with Steve Hanke. IMF programs have largely worked in Ghana. The problem has been the return to bad old habits when the program ends. ‘Don’t blame the heart surgery. You returned to a junk food diet as soon as you were out of hospital,’.”
The Ministry of Finance has announced in a statement that the delegation from the IMF iwas scheduled to arrive in Accra, today Tuesday July 5.
Subsequent to the directive by the President of the Republic of Ghana, the Ministry said it has commenced engagement with the Fund to support Ghana’s economic programme.
“Pursuant to this, a delegation from the Fund is scheduled to arrive in Accra on Tuesday 5th July, 2022, to commence in-person meetings with the Government of Ghana on Wednesday 6th July, 2022.