Economist Dr. Sam Worlanyo Mensah is advising Ghanaians to brace themselves up to experience the adverse repercussions of the $3 billion IMF bailout.
This comes after the International Monetary Fund and the finance minister, Ken Ofori Atta in a joint conference yesterday, Tuesday, December 13, 2022, announced that the country has reached a staff-level agreement and would be granted $ 3 billion and an additional $150 billion to stabilize the economy.
According to him, Ghanaians would experience a high cost of living and higher levels of unemployment in the subsequent months as part of conditionalities accompanying the $3 billion from the IMF.
”Once we go in for IMF bailouts you should know the pros and cons advantages and disadvantages definitely there will be an increase in utility bills and an increase in talk time. There will be increasing petroleum products in the coming days or coming and that’s they are going to freeze, employment in the public sector and so at the end of the day they will ensure government expenditure is reduced drastically. So these are some of the effects that we’re going to experience. They are going to lead to a high cost of living. Definitely, it is going to increase the cost of living.’‘ He said.
