Celebrated Business Leader, Dr. Ishmael Yamson has admonished Government to think long-term and stay discipline on economic management to avoid going to the International Monetary Fund (IMF) for bailout.
The Businessman who was recently celebrated by the Private Enterprise Federation, expressed optimism about the economy after government decision to seek the IMF bailout.
He said, government decision to seek the bailout will restore investor confident in the economy and bring about stability.
Asked his view on the government decision to seek a bailout, the former president of Private Enterprise Federation said “I think it is a good move”.
Dr. Ishmael Yamson who served the federation between 1994 and 1997 continued that “this is not the first time we are going to the Fund. This is the 17th one which is a shame but every time we are under the programme, we have some stability and growth in the economy. So I am looking forward to a very vibrant economy post the Fund’s programme.”
Speaking on what can be done to avoid going to the Fund for bailout, he said the government should learn to live within its means and be prudent with fiscal management.
“All the time we live beyond our means and if you live beyond your means, you would go to the IMF. So if we don’t want to go to the Fund again, we need to have a very prudent fiscal management of the economy.”
He added that, “we just have to be discipline and we should set our eyes on creating a long-term prosperous economy.”
Expressing his optimism in the economy’s viability, Dr. Ishmael Yamson said all hope is not lost and Ghana could come out of this.
“So it is possible but we need to do what is necessary; be prudent, discipline, think long-term, be old; do the courageous and wise things, you don’t do things that will make you popular simply because it makes you look good, but do things that may not even be good in the short-term but in the medium to long-term, will benefit the country.”