...from IMF and WB shackles
Government's quest for the IFC loan was an attempt to deliver Ghana from the shackles of the World Bank (WB) and the International Monetary Fund (IMF), a government official said on Tuesday.
Mr. Andrew Awuni, of the Vice President's Office, who said this at the launch of a newspaper in Accra added, "Yes the IFC loan has failed probably because of lack of diligence, but in truth, it was more of government's effort to deliver itself from the strings of the IMF and WB."
"About 50 per cent of government's annual budget alone is being funded by these institutions, which had always left government in an uncomfortable situation because most of the unfavourable conditionality attached to the assistance," he explained.
"Government deserves to be commended because this is what we called a paradigm shift."
The 12-page private newspaper, "Employment and Business Monitor" would cover issues relating to job securing and businesses with the maiden copy carrying on the front page, a story headlined economy is on track while the centre spread is entirely devoted to advertisement of the new currency notes yet to be circulated.
Mr Awuni said current aspirations of the people required the media to adopt changes in its coverage, adding that "the media cannot stick to the old politics, which simply targets the executive, parliamentarians and judiciary."
"Today our biggest problem is employment and economic independence, this is what the media must be seen to be charting," Mr. Awuni added. He commended producers of the paper, saying, "By coming out at this material moment in the industry when the competition looks so keen with everybody targeting politics, you have paved the way for the change and we hope many would see this."
Ebenezer K. Boateng, Managing Editor said the paper’s mission objective would be to address lapses in the redistribution of employment in the formal and informal sectors of the economy. This would be done by providing people the needed impetus for seeking and generating employment avenues.
