The unexpected lesson of Ghana’s 17th IMF bail-out
It pays to ask for help early and often
Even after Ghana threw off the colonial yoke in 1957, its first president, Kwame Nkrumah, complained that it was not truly free. Rich countries still held it back, he said, and the imf was a “neocolonialist trap”. His spirit lives on. Ghana’s current finance minister likens imf programmes to the way Israelites were treated in ancient Egypt.
This article appeared in the Leaders section of the print edition under the headline “Bail early, bail often”
From the August 13th 2022 edition
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