Immediate former Communications Director of the opposition New Patriotic Party (NPP), Nana Akomea has said the IMF bailout being negotiated by the country is an “admission of failure” by the Mahama-led government.

According to him, the move is an obvious attestation of the failed policies the government has undertaken since it assumed office.

Government is almost through with the arrangement for a fiscal bailout by the Bretton Wood institution. The move followed months of harsh economic difficulties amidst high inflation and depreciation of the local currency - The Cedi- which triggered several strikes on the labour front.

Speaking to Asempa FM Monday, the former MP said the decision is symptomatic of the failure by the government.

“This IMF bailout is an indication of failure by the government. It shows that they have no confidence in their plans and programs again. They believe the bailout will make Ghanaians accept their programs” he stated.

Ghana is likely to begin a three-year IMF program in January 2015.