Mahama welcomes decision to go to IMF; asks govt to pick competent negotiators for engagement

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Former President John Dramani Mahama who earlier urged the government to go to the International Monetary Fund (IMF) for support, has welcomed President Nana Addo Dankwa Akufo-Addo’s decision to formally engage the IMF with the view to entering into a programme under the Fund.

Though belated, Mr Mahama said, the decision should mark an important step towards addressing the dire economic situation, which he said has left Ghanaians wallowing under intense suffering and hardships.

Beyond the announcement of engagement with the IMF, he added, 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,” Mr Mahama said in a Facebook post on Saturday July 2.

The Finance Minister Ken Ofori-Atta has been instructed by President Akufo-Addo to commence engagements with the Fund.

This followed a telephone conversation between the President and the IMF Managing Director, Miss Kristalina Georgieva, conveying Ghana’s decision to engage with the Fund.

The Ministry of Information announced this in a statement on Friday July 1.

By Laud Nartey||Ghana

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