Ghana has an IMF programme not an economy – Sam Pee Yalley

Ghana's former High Commissioner to India, Mr. Sam Pee Yalley, has expressed his opinion on the country's economy, stating that Ghana should be referred to as running an International Monetary Fund (IMF) programme rather than having its own functioning economy.

According to Mr. Yalley, Ghana's economy is currently non-existent, and the situation can best be described as an IMF program rather than a functioning economy.

He criticized the president and the finance minister, accusing them of mismanaging the economy.

Mr. Yalley further stated that Ghana's economy has significantly deteriorated, and he is skeptical about the claims of a bounce-back.

He claimed that Ghana's economy would have collapsed if not for the intervention of the IMF.

Previously valued at around US$75 billion, Ghana is now relying on a meager US$3 billion from the IMF to survive, according to him.

The former High Commissioner strongly criticized the president for not taking responsibility and instead blaming external events, such as the COVID-19 pandemic and the Russia-Ukraine war.

He accused the president of being unresponsive and contributing to the current state of the country's economy.

These statements were made by Mr. Yalley during an interview on the Ghana Yensom Morning Show on Accra 100.5 FM on Tuesday, June 20, 2023.