The Convention People’s Party (CPP) has stated that it is saddened by the move of the Government of Nana Addo Dankwa Akuffo Addo and Dr Mahmudu Bawumia to resort to an IMF bailout because of mismanagement of the Ghanaian Economy and sheer incompetence on the part of the Managers of the Economy.

According to the CPP, Ghana has over the time faced serious economic challenges like depreciation of the cedi, rising inflation, rising cost of living, debt overhang etc., however, going to the IMF is certainly not the solution.

“… But the government, being bankrupt with ideas, thinks that is the only solution to salvage this country. That is why we are calling on all Ghanaians to vote out the NPP government on 7^th December 2024 and vote for the Convention People’s Party (CPP) to change the fortunes of Ghanaians for the better”.
CPP

In a statement signed by General Secretary, Nana Yaa Akyempim Jantuah, the CPP stated “without any reasonable doubt that the Akuffo Addo- Bawumia Government has failed Ghanaians by shirking their responsibility to ensure that the economy of Ghana is healthy and booming”.

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828202034845 swnaredq5k 2020 08 28 134819 — General Secretary of the CPP, Nana Yaa Akyempim Jantuah

The CPP noted that instead, the Government run the economy aground, with no shock absorbers, buffers or reserves to hold up the Economy and Ghanaians are really disappointed and sorely alarmed.

The CPP stated that Ghana has gone to the IMF for a bailout Seventeen (17) times and going there the 18^th time will not create the magic wand that would salvage the Ghanaian Economy.

“We in the CPP, believe that a run to the IMF is a lazy man’s approach to solving the problem as well as a short term fix which cannot redeem our damaged economy”.
CPP

The CPP thinks it is unfortunate that the Nana Akuffo – Bawumia government needs an outside body like the IMF to hold it to a fiscal discipline regime where it will be forced to be prudent and to have a plan aimed at prioritizing spending.

This, according to the CPP, “means the Nana Akuffo Addo –Bawumia led government all this time did not know what they were about and they were playing games with our economy, not caring a hoot about the implications and ramifications of their negligence on the people of this country”.

The CPP is amazed that whilst “we are in such an economic doldrums and a complete quagmire”, the Nana Addo-Bawumia government is only worried about its inability to ‘BREAK THE 8’. The Party further indicated that “under the circumstances, to them, the People of Ghana matters not but their desire to stay in power to loot, destroy and plunder”.

The Party noted that the decision to engage the IMF for a bailout is as a result of “the incompetence, profligacy, the wastage, the looting or the sheer disregard for the dignity and wellbeing of the Ghanaian”.

Government should apologize to Ghanaians

The CPP stated that the Akuffo-Addo Bawumia Government should stop being Peacockical and face the reality of its actions, adding that “it is time for them to render an unqualified apology to Ghanaians for putting us in this mess and reneging on all their promises to Ghanaians”.

The CPP however, admonished government that any IMF programme that is going to be negotiated on behalf of Ghanaians must have the interest of the Nation at heart and should be one that will promote and empower the People of Ghana economically not impoverish them.

“We of the Convention People’s Party are calling on the Government to put forward the best team of Economist to negotiate with the IMF on behalf of Ghana, to get the best deal for the country.
“The Team should look at terms and conditions that would help industrialize the nation, job creation and the drive towards exportation of our finished products. There should also be a negotiating window where socialist programs like the FREE SHS etc., would be aligned to the current economic situation in which we find ourselves”.
CPP

With the government going to the IMF for a bailout, the CPP noted that it believes it is time to scrap the “punitive tax” called E-Levy to give way for pragmatic and realistic ways of raising revenue for the country.

The CPP further pleaded with his Excellency Nana Addo Dankwa Akuffo not to depend on his family and friends to do the job because they “have failed us and run the country into a ditch”.