From Ghana Web

The Executive Director of IMANI- Ghana, a policy think tank, Franklin Cudjoe, is asking government to seek for an IMF bailout since the much expected revenues from cocoa and gold will not be able to salvage the ailing economy.

Finance minister Seth Terkper has hinted that government is counting on the peaking prices in cocoa and gold on the international market to boost the struggling Ghanaian cedi. The cedi has been in a steep fall since January, depreciating over 27 percent this year alone.

In what appeared like an open letter to the president on his Facebook, the IMANI boss said, “I also think you should ask Minister of Finance to prepare for an IMF bailout since the expected magic with cocoa and gold revenues may actually only end up paying our arrears. Even if gas flows from Atuabo sooner, the pricing dynamics will mean nothing may change substantially for energy.”

Mr Kudjoe is also urging President Mahama to merge some of the ministries to reduce the financial responsibilities on the state.

Read more at Ghana Web