The Finance Minister Ken Ofori-Atta deserves no credit for closing the deal with the International Monetary Fund (IMF), a renowned economist Kwame Pianim, has said.
In the view of Mr Pianim, going to the IMF meant a failure on the part of the Finance Minister.
Speaking in an interview with TV3’s Paa Kwasi Asare, he said “Ofori-Atta deserves no credit for going to the IMF. It means he has failed.”
Renowned Economist, Kwame Pianim has advised government to stop raising money from International banks to finance cocoa beans purchases.
According to him, the practice must be brought to a halt immediately.#MiddayLive pic.twitter.com/aePm7esAnE
— #TV3GH (@tv3_ghana) June 2, 2023
The approval of the $3billion deal was secured on Wednesday, May 17 with the first tranche of $600 million already received by the Bank of Ghana.
Mr Ofri-Atta warned that the deal would not offer a magic solution to the current economic crisis.
“Ghana’s IMF Board approval is far from a magic solution,” he stressed.
“What it is, however, is that it is a crucial first step on the necessary journey of strong reforms, inclusive growth and relentless pursuit of a growth agenda geared towards restoring our economy to a place of strength, prosperity and resilience.”
The Finance Minister was speaking at a joint press conference held by the Fund in the wake of the Executive Board’s approval of the $3 billion support.