Former Presodent John Dramani Mahama has welcomed government’s decision to seek support at the International Monetary Fund (IMF) following dire challenges with Ghana’s economy.
In a statement issued by the Information Ministry on Friday, July 1, 2022 announced that Government is set to commence talks with the International Monetary Fund (IMF) for a bailout.
“The President of the Republic, Nana Addo Dankwa Akufo-Addo, has authorized Finance Minister Ken Ofori-Atta to commence formal engagements with the International Monetary Fund (IMF), inviting the Fund to support an economic program put together by the Government of Ghana.”
But reacting to this in a Facebook post on Saturday July 2, 2022, former President Mahama stated that he welcomed the government’s decision to formally engage the IMF with to address the current economic challenges the country is facing.
Below is the full post:
I welcome President Akufo-Addo’s decision to formally engage the IMF with the view to entering into a programme under the Fund.
Though belated, it should mark an important step towards addressing the dire economic situation, which has left Ghanaians wallowing under intense suffering and hardships.
Beyond the announcement of engagement with the IMF, a comprehensive home-grown programme should be fashioned out and presented to the Fund for support. It is imperative that a team of skilled and competent negotiators is put together to obtain the best set of measures with the Fund.
The Finance Minister who has supervised the disastrous collapse of the economy cannot and should not be part of the team of negotiators. He has lost credibility and the trust and confidence of stakeholders in our economy.
President Akufo-Addo must take a bold decision to replace his finance minister immediately with a more assured and competent person who is willing and able to work tirelessly to turn our almost hopeless situation around.
In addition, given his obvious failures, the Vice President must be relieved of his responsibility as Chair of the Economic Management Team to enable the President to reconstitute the team.
We must draw useful lessons from this episode and avoid cheap politicking with the economy; that can only yield the disastrous outcomes that have brought us here.
Discussion about this post