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Ghana's economy IMF programme flawed - Bawumia

"There is a very big hole in that programme …I am humbly suggesting that that programme is flawed", he said in an interview with Joy FM.

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The 2016 running mate of the New Patriotic Party, Dr Mahamudu Bawumia play

The 2016 running mate of the New Patriotic Party, Dr Mahamudu Bawumia

The 2016 running mate of the New Patriotic Party, Dr Mahamudu Bawumia said in a broadcast that the IMF programme with government is flawed, citing spiral economic growth, high public debt, interest rates and inflation to back his claims.

"There is a very big hole in that programme …I am humbly suggesting that that programme is flawed", he said in an interview with Joy FM.

“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," he said.

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The IMF reached an agreement with Ghana on a new economic reform program that would be supported by a loan of about $940 million in February  2015.

The reform program seeks to boost growth and help cut poverty by restoring macroeconomic stability through tighter fiscal discipline, strengthened public finances, and slowing inflation.

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