Member of Parliament for Bolgatanga Central, Isaac Adongo, in August last year averred that Ghana's economic situation has put the country in the intensive care unit of the International Monetary Fund (IMF).
While many bemoaned the country's lack of proactiveness in securing a deal with the
“Ghana is sick at ICU of IMF. Ken is sick, Awol for medical attention. Dr Bawumia busy with yahoo scam, Nana snoring. The dollar partying away. Cola laced with tarrifs turned bitter. BoG at sea and citizens clutch for survival. A failed state,” he said.
Member of Parliament for Bolgatanga Central, Isaac Adongo, has mocked the government over what it calls a “failed state”.
According to him, Ghana’s economic situation is a dire one that has put the country in the “ICU of IMF”.
Whiles many have bemoaned the country’s lack of proactiveness in securing a deal with the International Monetary Fund, the government said negotiations will begin in September.
The Deputy Finance Minister, Abena Osei Asare, stated that an IMF deal will be secured by the first second quarter of 2023.
In a Facebook post by the Bolga Central MP on August 16 sighted by GhanaWeb, he said “Ghana is sick at ICU of IMF. Ken is sick, Awol for medical attention. Dr Bawumia busy with yahoo scam, Nana snoring. The dollar partying away. Cola laced with tarrifs turned bitter. BoG at sea and citizens clutch for survival. A failed state.”
Meanwhile, a senior Research fellow at the Institute of Fiscal Studies, Dr. Said Boakye, while presenting IFS’ assessment of the government of Ghana’s fiscal consolidation efforts noted that Ghana’s macroeconomic indicators have deteriorated drastically in the first seven months of the year causing prices of commodities to shoot up abnormally.
“Consequently, the relative price stability the country enjoyed in the past few years has disappeared, as the year-on-year consumer price inflation rate, which averaged, for example, 9.9% and 10.0% in 2020 and 2021 respectively, stood at 13.9% in January 2022,” he explained.
Also, Ghana’s local currency has been classified as the worst performing currency globally after it passed the GH¢10 mark.
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