IMF bail-out can only build three Kumasi Markets- Bawumia


NPP vice-presidential aspirant has reduced the monetary benefit of Ghana’s $940million IMF bail-out as capable of building only three Kumasi markets.

In an attempt to make a jargon-plague economics simple to his Central University College audience, Dr. Mahamudu Bawumia says the planned building of the Kumasi market in the Ashanti region will cost about $300million according to government.

This is says, means with the about $900million in bail-out money, government can build only three.

“If the program is successfully implemented as designed, it should restore macroeconomic stability, policy credibility, investor confidence and unlock donor funds.

“However $940 million is not a lot of money over three years (an average of about $313 million per year). It is the equivalent of the building cost of three Kumasi markets under this government’s pricing.”

Dr. Bawumia however hopeful the IMF would provide Ghana the analytical rigor that is presently “lacking in the economic management space as evidenced by the policy failure that has led us to seek an IMF bailout. It is clear that an analytical anchor is very much needed.”

Story by Ghana|Myjoyonline|Edwin Appiah|edwin.appiah@myjoyonline.com


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