TUC serves notice of industrial action if IMF bailout imposes 'hardship'

Ghana is seeking an IMF programme

Ghanaians face economic hardship

Gov't blames COVID, Russia-Ukraine war for economic crisis

Dr. Anthony Yaw Baah, Secretary-General, Trades Union Congress (TUC), has sent out a strong warning to the government amid talks with the International Monetary Fund (IMF) for an economic rescue programme due to the economic hardships the country is

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According to him, if the bailout programme imposes other challenges on public sector workers, then he will be leading an industrial action against the government.

Addressing a press conference in Accra on Monday, July 18, Dr. Yaw Baah said, “the greatest challenge ahead of Ghanaians is the IMF sponsored programme. As we know, the government has started negotiating with IMF and we know very well that IMF programmes and policies are completely devolved from reality, we have already communicated our objection to the decision to seek an IMF bailout for the eighteenth time."

He added, “We are convinced that an IMF programme will not solve our problems, it will only impose hardships on Ghanaians. Once again, we will like to remind the government that as part of the negotiations for the 2021/2022 base pay, we agree with the government to make 4 per cent and 7 per cent respectively on the condition that government will not declare redundancy and that government will continue to employ young people into the public service, we will hold the government to account.

“Our main challenge with the management of the economy has to do with the corruption and failure on the part of successive governments to transform the structure of the economy of this country so that Ghanaians can produce what we eat and eat what we produce.

“Currently, the profit-making sectors, including mining, petroleum and banking, are all in the hands of foreigners. I always ask my colleagues, why is it that Nigerian banks are all over the country but I cannot hear of any Ghanaian banks in Nigeria? IMF programmes will not deal with these fundamentals. IMF programmes, you know what they do?

“They only prepare the country for another IMF programme, that is why you go for one, two or three, four up to 18. So this 18th programme is going to prepare Ghana for the 19th programme and the 19th one will prepare Ghana for the 20th. You know it is like that? So that IMF will be in business otherwise they have no business.

“We know very well that the 18th programme that is being negotiated will not be different but I want to assure you all Ghanaians that what will be different is that TUC will lead the working people of Ghana to resist any attempts to impose hardships on workers and their families and the Ghanaian people because the IMF, the content of the programme will not be different but the resistance from the people of Ghana will make it different," Dr. Anthony Yaw Baah stressed.

The Government of Ghana on Friday, July 1 announced that it was seeking support from the IMF.

An IMF team has since held talks with relevant stakeholders during a one-week engagement that ended last week.