Ghana likely to return to IMF for Monetary help
Ghana likely to return to IMF for monetary help if its debt keeps rising. Ghana’s debt is likely to hit 81.5% GDP this year 2021.
According to an Economist, Ghana is likely to return to International Monetary Fund for monetary help.
The expenditure of the country keeps rising. He further revealed that the only way to prevent Ghana from returning to IMF for Monetary help is to increase domestic revenue mobilization.
He also said that the Moment you return to IMF it means you have failed to manage your economy properly the economist revealed.
He also said that is it always good to avoid going to IMF due to strict conditionalities.
At the University of Professional Studies, the Minister of Finance said that the government’s payroll is full so the graduate youth should venture into entrepreneurship.
The Minister said that the government is spending 60% of revenue to pay 650,000 public sector workers.