IMF team arrives in Ghana on July 6
Are we able to pay for them, Terkper questions flagship programs
Former Minister of Finance Seth Terkper has stated that some government flagship programs need to be redesigned, now that the country is seeking an IMF bailout.
According to him, programs like the Free Senior High School Policy need to be re-assessed to ensure that it is sustainable.
He made the suggestions after he noted that some flagship programs are draining the country’s resources.
Speaking to Citi Business News, he said “the question we should be asking ourselves is; do these programs have the right design, and are we able to pay for them? We know it.”
“The headmasters and other stakeholders like contractors have all spoken about a lack of payment when it comes to the programs, they are a part of. So, it’s not a question of whether the IMF is going to push us.”
“We have to candidly question ourselves on the sustainability of our programs like the Free SHS, especially in an environment where we don’t have access to the market to borrow.”
Terkper noted that “like other programs in the past, the Free SHS needs to be redesigned.”
President Nana Addo Dankwa Akufo-Addo ordered the finance minister to begin formal engagements with the International Monetary Fund on financing for a government program.
Meanwhile, a team from the International Monetary Fund is expected to arrive in Ghana on Wednesday, July 6, 2022, to commence negotiations with the Government of Ghana on the modalities for a package to support Ghana’s economy.
Source: www.ghanaweb.com
