Ghana severs IMF ties

President John Dramani Mahama

President John Dramani Mahama

from RUSSEL ADADEVOH in Accra, Ghana
ACCRA – GHANA will cut ties with the International Monetary Fund (IMF) with the hope of reducing soaring debt.

President John Dramani Mahama, said the West African would not renew its engagement with the IMF or get engaged with the Bretton Woods institution for any form of financial assistance when the current three year engagement ends.

He was addressing government officials, security service chiefs and party supporters upon his arrival from the United Arab Emirates.

While Mahama did not give reasons why Ghana would pull out of the IMF, it is believed the growing chorus from other African nations grappling with the IMF debt, prompted the decision.

Several African countries have over the years complained that the international lending institutions were not fair in their dealings with third world countries

It is said the Brettonwoods institutions were acting as appendages of the United States used as tools to re-oppress poor and developing nations.

– CAJ News






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Posted by on Oct 6 2014. Filed under Africa & World, Featured, Finance, Finance & Banking, News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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