Economic Issues

If IMF Asked Government To Keep Huge Size And Build Cathedral Then They Are A “Big Joke”: Prof Gyampo Slams

If IMF Asked Government To Keep Huge Size And Build Cathedral Then They Are A “Big Joke”: Prof Gyampo Slams

Dec 23, 2022 9:40 AM

  • Prof Ransford Gyampo has slammed the International Monetary Fund (IMF) for not doing enough to ensure that the government abides by the true principles of austerity
  • He said it was baffling that in a time of crisis that has compelled the government to seek IMF bailout, Nana Akufo-Addo’s administration still retains its huge size
  • According to Prof Gyampo, the IMF is to blame for what he calls a “vicious cycle” that keeps the poor in Africa poorer

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Senior political science lecturer at the University of Ghana Professor Ransford Gyampo has said it is baffling that Ghana is on its way to securing $3billion from the IMF while its huge spending seems unchecked.

The outspoken lecturer does not seem to understand why during the current period of crisis and austerity, the Nana Akufo-Addo administration’s government still keeps a huge size or still considers building the cathedral.Read also

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“So, did the IMF ask the government of Ghana to: do the following, even during this period of crisis and austerity?: 1. Maintain its Huge Size; 2. Continue with the construction of a National Cathedral; 3. Demolish and rebuild the Accra International Conference Centre; 5. Recruit more staff as government machinery; 6. Continue to make education at the High School level free; and 7. Continue to pay all allowances, per diems and ex-gratias. Then they (IMF) too, they are bogus and a big joke,” he said.

Prof Ransford Gyampo has said Akufo-Addo should not keeping a huge government if the country was seeking IMF bailout.
L-R: Nana Akufo-Addo and IMF boss Kristalina Georgieva, and Prof Ransford Gyampo speaking at a forum. Source: UGC, Facebook/@ProfRansfordGgyampo Source: UGC×300&!3&btvi=1&fsb=1&xpc=XpFlHu0gMn&p=https%3A//

He also accused the Bretton Woods institution of perpetuating a vicious cycle that makes the rich richer and the poor poorer in Africa by deliberately overlooking the profligacy of political leaders.

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“Did you disingenuously tell our politicians to keep their savings and investments secured in foreign bank accounts and to use the pension money of the already impoverished public sector worker to fund the Debt Exchange Programme?” he quizzed.

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His blunt comments on Facebook on Thursday, December 22 follows revelations that various Minority-led parliamentary committees had to fight what has been described as “wasteful spending” in the 2023 budget.

It has emerged that the Minority legislators blocked many allocations to many projects, including GHS80 million for the controversial National Cathedral project, in the 2023 budget.

Minority Blocks GH¢1.3 Billion Allocation To Demolish And Rebuild Conference Centre

Meanwhile, has reported in a separate story that MP for North Tongu Samuel Okudzeto Ablakwa has disclosed that the Minority successfully blocked what he called “wasteful expenditures” in the 2023 budget.

He has disclosed that the Minority have blocked the allocation of 1.3 billion Ghana cedis for the demolition and reconstruction of the Accra International Conference Centre.


Earlier, by a 11-10 majority decision, the Minority blocked some 80 million Ghana cedis allocated for the construction of the National Cathedral.

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