Isaac Adongo defends NDC’s Plan to Reform IMF Deal

Isaac Adongo, the spokesperson on the economy for the National Democratic Congress (NDC) manifesto, has offered a justification for the party’s plan to reopen discussions with the International Monetary Fund (IMF) regarding Ghana’s three-year bailout.

Adongo, who represents the Bolgatanga Central constituency in Parliament, argues that the current program under the Akufo-Addo-led New Patriotic Party (NPP) government lacks inclusivity and a nationalistic approach.

He contends that the consultation process leading to the program’s presentation to the Fund was one-sided, as various stakeholders were not adequately engaged to provide their perspectives.

Adongo pledges that in the event of the NDC’s electoral victory in December, a government led by John Mahama would prioritize consultative meetings with all relevant stakeholders to ensure a more comprehensive and inclusive approach to the program that garners acceptance from all parties.

In an exclusive interview on GhOne’s ‘Hard Talk’ program, Adongo emphasizes the party’s desire for a program that serves the collective interests of Ghanaians, rather than catering to a select few.

As the Ranking member on the Finance Committee in Parliament, he asserts that the NDC’s innovative approach, among other strategies, will facilitate the implementation of the party’s flagship 24-hour economy policy.

“We have indicated our intention to engage with the IMF to revisit the program. By demonstrating the relevance of enhancing security measures to support a 24-hour economy through involving private security firms, we aim to relieve the burden on government resources.

Our commitment to stakeholder engagement and redesigning fiscal consolidation efforts will shape a new path forward, which we will present to the IMF for reconsideration,” Adongo explains.

Regarding the NDC’s 24-hour economy initiative, Adongo stresses that the policy is not sector-specific but rather a holistic strategy designed to enable various sectors, both public and private, to leverage the initiative for job creation and increased productivity.

Adongo also addresses the collapse of indigenous Ghanaian banks and financial institutions during the previous administration, expressing concerns about the lack of transparency and alleged underhand dealings associated with their shutdown.

He pledges that an NDC government would investigate these matters thoroughly to ensure accountability and rectify any injustices that may have occurred.

Touching on the judiciary’s role in overseeing such cases, Adongo highlights the importance of restoring public trust in the justice system and assures that the NDC would work collaboratively with the courts to uphold the rule of law and ensure impartiality.

In conclusion, Adongo insists on the need for a thorough examination of the circumstances surrounding the bank closures and emphasizes the party’s commitment to promoting transparency and accountability within the financial sector, as part of its broader agenda to enhance governance and economic sustainability in Ghana.

Source: Whatsupnewsghana