The International Monetary Fund (IMF) initiative was abandoned by the previous National Democratic Congress (NDC) administration, according to the Minority caucus in Parliament, which has retaliated against Finance Minister Ken Ofori-Atta.
Ofori-Atta said in an essay that the National Patriotic Party (NPP) leadership in 2017 had taken over from its predecessors a “derailed IMF plan and a profoundly damaged and morally challenged financial industry.”
His piece comes after many demands by the Minority for the resignation of the Governor of the Bank of Ghana (BoG) due to allegations of improper management of the Central Bank.
In addition, the Finance Minister urged support for the building of a new BoG office that would be appropriate in his essay.
Responding to Ofori-Atta, Minority Leader Ato Forson in a statement argued that the Mahama administration left behind a robust economy.
“The Minister of Finance should not say anywhere again that the NDC administration left behind a derailed IMF programme. Clearly, at the time we were leaving office, there was no monetary finance. For the first time in the history of Ghana, the government did not take money from the central bank even though the law allowed the then administration to take 5% of the previous year’s revenue from the central bank.”
“The people of Ghana would recall that because the Mahama administration left behind a robust economy, the Akufo-Addo/Bawumia government within the first three months of its assumption of office was able to borrow US$2.25 billion from Franklin Templeton”.
Ato Forson emphasised that the NDC government performed incredibly well compared to what Ghanaians are now witnessing under the Akufo-Addo government.
“We did better than they are doing and the NDC will always do better when the good people of Ghana give John Mahama and our party the opportunity to govern from January 2025. Finally, the Minority in Parliament wishes to remind Governor Addison and Mr. Ken Ofori-Atta that the day of reckoning is very near and they will be held accountable for their collective mess,” he said.
He added that history will remember Ofori-Atta for taking Ghana to IMF in an ambulance, insisting that the Bog Governor resign.
“History will remember this Minister of Finance and the government’s Economic Mismanagement Team headed by Alhaji Mahamudu Bawumia for taking Ghana to the IMF in an ambulance”.
