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Apologize To Ghanaians and Go For IMF Bailout – Gov’t Advised

A China-based Ghanaian PhD student, Zankawah Sanusi Mumuni is advising the Akufo-Addo government to swallow its pride, apologise to Ghanaians for the reckless mismanagement of the economy and go to International Monetary Fund (IMF) for a bailout to save the country’s economy from collapse.

According to him, the only way citizens will agree to stand with the government in these difficult times is when they repent from their “luxurious and careless spending”.

In an article, sent to The Anchor, Zankawah Sanusi said, “ Eat the humble pie, apologize to Ghanaians and start to make some sacrifices. Let the Ghanaian have the feel of your repentance and that we are all going to bite the bullet even though your mismanagement led us all here. In that case, we shall all see the need to relax our stands on this E-LEVY and other adjoining taxes to raise the needed revenue to keep our country running”.

The Full Article Is Published Below:

Isn’t this an insult to our sovereignty? The health of our economy now depends on the telecos? How sustainable is this arrangement, a whole country’s economy relying on just about two MNC’s?  Assuming these telecos decides to fold up and leave the shores of Ghana, how is the government going to mobilize revenue to finance its projects? At least if we had not privatized our only telecommunication giant i.e Ghana Telecom we could be confident of the sustainability of this source of revenue even if their competitors decided to exit.

Amidst all this back and forth, the man who misled us here, the economics messiah (Alhaji Bawumia) is tight-lipped.

With respect to the IMF, the government is unable to go there for two reasons;

  1. The IMF will not give you money to engage in opulence and extravagant lifestyle, it will ensure every single penny you spend make economic sense and as we are all aware, this government can never sacrifice its luxurious and careless spending for anything.
  2. President John Dramani Mahama who has no economics background predicted earlier last year that from the data available, going to the IMF was inevitable and that is exactly where we are now. So going there at this point will vindicate his stands.

At this point three things are eminent;

  1. Eat the humble pie, apologize to Ghanaians and start to make some sacrifices. Let the Ghanaian have the feel of your repentance and that we are all going to bite the bullet even though your mismanagement led us all here. In that case, we shall all see the need to relax our stands on this E-LEVY and other adjoining taxes to raise the needed revenue to keep our country running.
  2. Again apologize to Ghanaians and go back to the IMF.
  3. Whiles making those sacrifices, immediate steps must be taken to make the Komenda Sugar factory operational, prioritise rice and poultry farming. If we can downsize the imports of sugar, rice and frozen meat, we would be creating a lot of sustainable jobs and wouldn’t have to overburden the citizenry with nuisance taxes.

President Kufour adopted the former and that worked perfectly for his government. President Mahama started the latter, so we have a template to work with. This ‘Takashi and Bamuyada’ posture of government and its appendage will take us all nowhere.

 

By: Zankawah Sanusi Mumuni (PhD Economics Candidate)

School of International Trade and Economics

University of International Business and Economics

Beijing China

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