The 2016 NPP Vice-Presidential hopeful, Dr. Mahamudu Bawumia says if the IMF programme with government was effective, it should have shown in decreasing levels of the debt, inflation, interest rates and creation of more jobs, saying that none of these were happening.
Dr. Mahamudu Bawumia stated that all these indices of improvement which are not happening under the IMF programme prove that government’s economic policy agreed with the IMF has very serious flaws.
“There is a very big hole in that programme …I am humbly suggesting that that programme is flawed,” the 2016 NPP vice-presidential candidate expressed concern.
The purpose of the IMF programme which began in 2015 was to reduce government deficits and debt accumulation; a tactic described in economics as fiscal consolidation and also, as the government itself says, to give policy credibility to its homegrown solutions.
“If you have fiscal consolidation where your debt is going up, interest rates are going up, growth is coming down, inflation is going up then there is a problem.
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