Have a contingency plan in case IMF deal fails – Lord Mensah to gov’t

A Professor at the University of Ghana Business School, Lord Mensah has told the government to have another strategy to rely on in the event that the country misses out on closing the deal with the International Monetary Fund (IMF) by end of March this year.

He explained that in matters of this nature where there is uncertainty, what an economy manager should do is to develop another plan to cater for the situation where the deal does not happen within the expected period.

“Talking about not getting an IMF deal by end of March having a serious impact on the economy, I think that there should be a plan B. If we don’t get the IMF deal by end of March you should have a plan B as an economic manager.

“So for me, there should be a Plan B building up which I know very well that they may also consider. Maybe having an engagement with the Americans, taking advantage of the geopolitical conditions, and ensuring that at least we get support from the country to keep us afloat until we get a deal. For me we shouldn’t rush it we may have to look at the timing, at what point do you want t get an IMF deal?” he said.

It is recalled that Finance Minister Ken Ofori-Atta said the economy would crash if Ghana does not get an IMF deal by end of March.