Ghana Beyond Aid still relevant, we only go to the IMF for a loan

Minister of Information, Kojo Oppong Nkrumah

Oppong Nkrumah says there is a difference between loan and help

Ghana asks for IMF bailout

IMF bailout: Asking for $2 billion from the IMF is an insult to Ghana’s Beyond Aid program – OccupyGhana

Information Minister Kojo Oppong Nkrumah has insisted that the government’s decision to opt for an International Monetary Fund (IMF) bailout does not downplay the ‘Ghana Beyond Aid’ program as it has been claimed. affirms.

According to him, the government goes to the IMF for a loan which it will repay with interest and not for a subsidy or a gratuity.

The Minister further explained that “Ghana Beyond Aid” is about the country ending its over-reliance on foreign aid, particularly its reliance on foreign support for key sectors of the economy. economy such as education and agriculture.

“’Ghana Beyond Aid’ is still relevant. We’re not going to the fund for help, it’s a loan. So it does not change the principle of Ghana beyond aid. The loan is not aid. The loan can never be a help. We will take out a loan that we will repay.

“We will mobilize our national resources, invest them in the productive sectors, develop the economy, when the GDP arrives, we will have to pay a certain percentage of it to the public treasury so that we can service these debts.

“Ghana Beyond Aid’s vision is that we should come to the point where we are able to mobilize our own resources to do the things we seek and not rely on help from other countries,” Oppong Nkrumah said in a statement. GTV interview followed. by Ghana Web.

Meanwhile, pressure group OccupyGhana has deplored the decision of the Nana Addo Dankwa Akufo-Addo government to refer the country to the International Monetary Fund for a bailout.

The group said going to the IMF for a measly $2 billion is a disgrace and will not solve anything since the main problem affecting the country’s development is corruption which successive governments have failed to address.

In a statement released on Friday, July 8, 2022, OccupyGhana suggested that the $2 billion bailout the government is seeking is even likely to go into the pockets of individuals since corruption in Ghana is so rampant.

“This is why this return to the IMF for a ‘derisory’ 2 billion dollars leaves a bitter taste in our mouths. We would not submit to this forced and humiliating ‘Ghana [is not yet] beyond the help position if we had prevented the losses and thefts in the first place. Second, we would not be here if we had taken the simple steps to recover lost and stolen monies,” parts of the statement read.

Watch the minister’s interview below

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