Alban Bagbin, the Speaker of Parliament, has raised concerns over the role of the International Monetary Fund (IMF) in contributing to Ghana’s economic decline. He voiced skepticism regarding the IMF’s motives, suggesting that the organization may be orchestrating situations to compel Ghana to seek their assistance once again.
During discussions with the top five schools participating in the National Public Speaking Competition on March 1, 2024, Speaker Bagbin implied that the IMF is offering misguided advice, leading the country into economic hardships.
He expressed, “Whenever they wish to see Ghana stumble and return to them, they instruct their associates to misguide us. If we take the wrong actions and face collapse, they [IMF] claim, ‘Aha! That is what they do to us.’ Ghana has been in this cycle 17 times; our issues remain unresolved.”
These remarks from the Speaker followed the IMF’s statement on the passage of an anti-gay bill, in which the organization reiterated its stance against all forms of discrimination.
In May 2023, the International Monetary Fund (IMF) approved a $3 billion loan for Ghana, a West African country grappling with a severe economic crisis. The program, sanctioned by the IMF board, spans 36 months under the Extended Fund Facility, with an initial disbursement of approximately $600 million.
