The Ghanaian government’s eventual decision to seek a bailout from the International Monetary Fund (IMF) could have an impact on key projects and policies.
The flagship policies may suffer as a result of the terms and conditions that usually accompany an IMF bailout, in which the government is told to cut back on spending and focus on raising revenue.
The IMF bailout could prevent the government from increasing public sector hiring, closing revenue gaps, and downsizing government machinery.
In the midst of this, the following capital-intensive flagship programs and policies may be halted, cancelled, or completely eliminated:
- The Free Senior High School Policy
- The Nations Builders Corps policy
- The construction of the National Cathedral
- Planting for Food and Jobs
- One District, One Factory
As a result, it is highly likely that the Ghanaian government will reintroduce toll collection by reactivating the country’s closed toll booths.
Regardless of Ghana’s ballooning debt stock, the government would need to focus on generating revenue to pay for the debt accrued.
How long can the IMF bailout last when Ghanaians are already calling for the cancellation of the Free SHS policy and the E-LEVY?