Anyaa Sowutom MP Explains Why Ghana Is Going To IMF

Each of the countries going to IMF has unique circumstances that have led them to declare the need for help. Ghana is locked up in staggering pension liabilities, expensive labor contracts, huge flagship programs with large expenditures, and at the same time tax revenue that has fallen due to the weak economy and sluggish market, and changes in government policies. For countries in the worst financial situation, the IMF process provides a legal framework to reorganize debts and negotiate an orderly plan to repay creditors. We know IMF can also force the political will necessary for politicians, government officials, and…