The Majority Chief Whip, Frank Annoh-Dompreh, has emphasised that government will explore home-grown solutions to tackle the current economic challenges, dispelling calls by the opposition National Democratic Congress (NDC) to seek a bailout from the International Monetary Fund (IMF).
Ranking Member on the Mines and Energy Committee, John Jinapor, had told journalists that the free-fall of the Cedi against the major international trading currencies, especially the US Dollar, was a sign that the government’s Economic Management Team (EMT) had failed. He therefore called on the President to dissolve the EMT.
But the Majority Chief Whip described the call as frivolous. According to him, the Akufo-Addo government will bite the bullet by exploring home-grown solutions to get the economy back on track.
“We will bounce back stronger with home-grown solutions and the President and his Economic Management Team will soon announce those measures to get the economy back on track. Going to the IMF is not an option for government,” he told journalists in Accra last Friday, moments after the adjournment of Parliamentary sitting.
He said although the decision taken by government for home-grown solutions is a painful one, he was very optimistic that it would inure to the benefit of the nation.
Mr Annoh-Dompreh indicated that if Ghana had joined the IMF, government wouldn’t have been able to recruit the current number of people into the Police Service, the Army, the Prison Service and other public sectors.
“You do an analysis of the last ten years. Our stint with the IMF, they always come with a blue – reduce support to your social sector of the economy which reduces employment and cuts a freeze to the public sector. We don’t want to do that to our people, and we cannot put those pains to Ghanaians, hence we are saying that it is better for us to bite the bullet and find home-grown solutions,” he noted.
He added that he would be very surprised if government resorted to the IMF, stressing that the calls to seek IMF support are not a very good appeal for the country.
“Ultimately, our home-grown solutions are going to benefit us. For this short period, we are going to struggle, but I am very confident that if we stay together and continue to pray for government, and continue to have confidence in the government, I am sure that we will scale this wall. It is the question of one government that you can trust and who is able to manage our affairs and welfare even at the prime of global pandemic compared to another who self-impose difficulties and still run to the IMF, the distinction is clear,” he stated