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The Chief Executive Officer of Dalex Finance, Kenneth Thompson, has urged the government to resort to other far-reaching economic reforms than rely on foreign aid.
He believes it is the only way Ghana as a country can recuperate from the current economic crisis.
His comment came on the back of the government’s engagement with the International Monetary Fund (IMF) for an economic bailout.
Mr Thompson’s posture on development stems from previous commitments which have not had remarkable improvement on the economic situation since independence.
Successive governments have engaged the IMF 17 times, and the incumbent is in talks with the Fund to sign her onto a new programme.
But reacting to the development at a programme held in Tema by the Ghana News Agency, Mr Thompson said the “IMF is a circus that attracts attention but doesn’t deliver much”.
He opined that “with discipline and dedication we can build our own country without relying on foreign aid”.
The economist thus suggested, among other things, the reduction of expenditure and a cut in the number of government appointees to protect the public purse.
He also advocated a cut in tax exemptions to foreign companies as the country loses huge sums of money annually to such exemptions.
Lastly, Mr Thompson called for an efficient collection of taxes to increase revenue and bring the economy back on track.
