Mr Enoch Okuna, a chattered economist and Chief Executive Officer (CEO) of Dumart Africa has stated that the three billion dollars loan facility Ghana is seeking from the International Monetary Fund is not the remedy for the country’s economic crises.

The Ghanaian officials said on Thursday that the $3 billion International Monetary Fund (IMF) bailout approved for the West African nation will help reset the economy and ease the economic hardship on its citizens.

Speaking on ‘Me Man Nti’ political Show on Sompa FM in Sunyani Saturday May 20, Mr Okuna said, the $3 billion would only help cushion the economic recovery.

Touching on some advantages and disadvantages of the bailout from the Bretton Wood Institution, he indicated that, the country stand a chance of witnessing a stabilize inflation, low debt level and restore confidence in the banking sector.

However, among other conditionalities of the IMF support, the citizenry would suffer a high dependency burden as the government cannot employ much people in the public sector.

Ghana has for the seventeenth (17th) time sough support from the International Monetary Fund.

Ghana was set to receive an amount of $600 million from the International Monetary Fund (IMF) on Friday May 19, 2023.

That would be the first tranche of the $3 billion three-year extended credit facility Ghana secured from the IMF on Wednesday to revive its ailing economy.

During a joint press conference held between the Government of Ghana and IMF officials on Thursday, Finance Minister, Ken Ofori-Atta laid out a comprehensive roadmap to secure ongoing financial assistance from the IMF in the coming months.

Sompaonline.com/Akua Nyarko