Former President Mahama is expecting the government to lead by example by cutting down on its expenses as the country is currently seeking a bailout from the International Monetary Fund, IMF.
He stated during an interview on Voice of America when he visited the United States that if the government sets an example the citizenry will understand the need to also sacrifice.
“If the President himself is cutting the budget of government machinery, then everyone must be prepared to make a sacrifice.”
Numerous complaints have been directed at the presidency over what the citizenry claims reckless spending and an elephant size government.
Ghana’s current economic woes prompted it to urgently seek a bailout of about $3 billion from the Britton Woods institution to salvage the economy.
Former President Mahama despite Ghana’s situation expressed optimism that this 17th run to the IMF will be the last as it seeks to adopt homegrown policies targeted at strengthening the economy and also empowering the youth.
He admits that seeking a bailout is not the outright solution to the economic woes Ghana is experiencing as he envisages Ghana will struggle with its credibility in a bid to stand on its own as investors will need to be assured that they can entrust the economy with their investment if they see an institution like the IMF liaising with you.
On Monday, the second visit of the IMF to the country to assess the situation ended as the discussion on how to aid the country continues.
The negotiations were based on how Ghana can be lifted out of this economic mess with financial aid.
Ghana’s debt sustainability is currently being examined by the IMF as the government is also aiming to secure the deal before preparing the 2023 budget.