Prime News Ghana

IMF deal needed to check reckless spending, TUC’s call wishful - Economist

By Justice Kofi Bimpeh
Wilson Dzisah
facebook sharing button Share
twitter sharing button Tweet
email sharing button Email
sharethis sharing button Share

Economist and a lecturer at the Ghana Institute of Journalism, Wilson Dzisah has challenged the Trades Union Congress (TUC) to show how the SSSS has impacted on Ghana’s economy in terms of labour productivity before asking for further salary increments.

He averred the outlook of the TUC executives must be rooted in the welfare of the Ghanaian worker adding “when the TUC and politicians get converted to being caring Ghanaian's, we would not need IMF, until then, IMF remains a necessary evil.”

Espousing his ideas further in a interview, the economist noted that Ghana did not have to necessarily subscribe to the International Monetary Fund (IMF) loan but recklessness on the part of leadership means the TUC’s call on the government not to adhere to the program is wishful thinking.

“The program has some benefits. Just like any human phenomena, there is bound to be some challenges. For me, it serves as a check on our reckless economic behaviour. Debts levels are falling, inflation has declined, interest rate is remaining the same and the cedi is gaining ground. Therefore, TUC’s point cannot hold”.

He opined, to extricate the country from such programs, there is a need to reduce our taste for foreign products rather patronize local products which could cause a multiplying effect of increased earnings and lead to expanded local market and available jobs.

The economist also observed “cutting down on government appointees, cancelling unmerited allowances, triggering citizen patriotism campaigns through formal and informal means can all reorient citizens.”