IMF Bail-Out: Prof Opoku-Antwi Accuses International Monetary Fund Of Contributing To Ghana’s Scam Leadership

• A management expert has lashed out at both the IMF and the government for being part of a grand scheme to pillage the country's resources
• Prof Enoch Opoku-Antwi said Ghana's 17 times IMF assistance since independence translates to seeking a bail-out programme every four years
• In his estimation, Ghana's economic problems are caused by greed and corruption, supported by the IMF

A Ghanaian professor of leadership and management, Enoch Opoku-Antwi, has accused the International Monetary Fund (IMF) of being part of Ghana’s decades-old economic problems.

Prof Opoku-Antwi, a management expert at Viterbo University in the United States, said the IMF constantly backs the scams committed by Ghana’s political leaders.

Speaking on Class FM's live morning show on Thursday, 7 July 2022, Prof. Opoku- Antwi said greed, corruption, propaganda, and cooking figures to please the public have been the cause of Ghana’s economic woes.

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Prof. Opoku-Antwi described Ghana’s governance system as a scam and accused the IMF of being part of it. He said the number of times Ghana has gone to the IMF, 17, is evidence that something is fundamentally wrong.

“It is very interesting for a country of 65 years who has gone to the IMF 17 times. That means, on average, every four years that we do elections, we go to the IMF one way or the other for financial rescue. And that has come from many angles, greed, corruption, and propaganda. We keep returning to them so that they structure our system for us.

“The most painful thing ever in our culture is to sit for someone to think for you and that is exactly what we have been doing. We just talk and there is no action and leadership is about execution,” he lamented during the morning programme monitored by YEN.com.gh.

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He said Ghanaian governments have not been able to execute any strong economic fundamentals because “the whole system has become a scam.”

Touching on Ghana’s latest request for an IMF bail out, Prof. Opoku- Antwi said it was unfortunate because bad leadership and corruption caused it. He noted that Ghana should not go to the IMF because it is endowed with rich resources.

“We do not have the right leadership but corrupt people who do not tell the truth. If you look at our resources, how much are we earning? he quizzed.

“Every natural resource that is being drilled and taken away, we are being screwed, even in international trade,” he fumed.

President directs finance minister to engage IMF for economic programme

YEN.com.gh has reported in a previous story that President Nana Akufo-Addo has directed Finance Minister Ken Ofori-Atta to begin formal engagements with the International Monetary Fund (IMF) for an economic programme.

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Over 100 countries have not gone to IMF bail out – Bright Simons

The global economic disruption triggered by the Russia-Ukraine war has worsened Ghana's macroeconomy.

High public debt, rising inflation and depleting foreign reserves have destabilised the balance of payment. Economic hardship in Ghana has remained a topical national issue since the start of 2022.

Source: YEN.com.gh