Finance
The backstory to what sent Ghana to the IMF under Rawlings – Veteran soldier reveals
A former member of the Provisional National Defence Council (PNDC), Sergeant Daniel Alolga Akata Pore, has recounted the events that led to Ghana entering an agreement with the International Monetary Fund (IMF) during the tenure of the late Jerry John Rawlings as president.
In his account, he mentioned that IMF representatives approached the then government with a programme intended to provide the nation with funds to enhance its economic prospects.
The sergeant noted that the late Rawlings had no interest in the matter, which led him to stand up from the meeting and exit, leaving the discussion of the deal to the other government officials.
The veteran soldier indicated that although the president was absent from the meeting, the remaining government officials agreed to the IMF’s proposal.
“By March, April, they had brought the IMF. It was an Indian, I believe he was the country director or something. They arrived and laid out this IMF plan to us at the castle. At that time, any mention of devaluation was a red line, so you didn’t cross it. The fact that they were pitching it to us, I simply raised my hand and asked, ‘isn’t this the same devaluation we’ve been discussing?’
“They responded, ‘yes,’ and they were so nonchalant about it. Rawlings doesn’t stay in meetings when these topics are discussed. He stood up and left the room; he wasn’t there. Others chaired the meeting. And that’s how the whole thing happened. That’s how we went into our IMF programme under the PNDC,” he said while speaking in an interview with JoyNews.
He brought up the issue while talking about the Akufo-Addo-led government’s decision to seek a financial bailout from the IMF programme to address the economic challenges currently being experienced in the country.
Source: www.ghanaweb.com
