Source: newsthemegh.com
Ghanaians have been advised by the minority in parliament to prepare for greater adversity.
Dr. Cassiel Ato Forson, the minority leader, issued a warning that the agreement will negatively affect Ghanaians, particularly the young.
The worry follows the IMF’s approval of Ghana’s $3 billion bailout, which was intended to revive the faltering national economy. Government authorities and a portion of the people are thrilled that the agreement has been approved.
The Minority, however, contends that the exuberance is unwarranted.
In a statement released on May 18, 2023, Dr. Ato Forson criticized the Akufo-Addo-led administration for delaying its request for the bailout.
The Akufo-Addo/Bawumia NPP government’s persistent denial of the real situation of Ghana’s economy and its tenacious efforts to place blame elsewhere have been evident from the start. The reality on the ground has no doubt forced them to show up at the IMF’s doors like a patient in an emergency ambulance, begging for quick resuscitation, despite all the statistical manipulations done to conceal the true state of the economy.
Dr. Forson stated that as one of the terms of the agreement, the government promised to raise utility rates on a quarterly basis.
“Suffice it to say that the Akufo-Addo/Bawumia government has pledged to raise utility rates every three months starting from last year as part of their proposal to the IMF to secure this deal. Electricity rates have increased by a total of 75.32% since September 2022 (27% in September 2022, 29.96% in the final quarter of 2022, and 18.36% just recently).
“Let’s prepare for the full effects of this IMF accord, which will undoubtedly be devastating to Ghanaians, particularly the young. This is not a word of desperation, but rather the truth that will soon hit us all.