The Finance Minister, Ken Ofori-Atta, recently accused the previous National Democratic Congress (NDC) administration of leaving behind a derailed International Monetary Fund (IMF) programme, prompting a swift response from the Minority caucus in Parliament.
In an article, Ofori-Atta asserted that the New Patriotic Party (NPP) government in 2017 inherited a ‘derailed IMF programme and a highly impaired and ethically strained financial industry from our predecessors.’ His comments were made in the midst of ongoing calls by the Minority for the resignation of the Governor of the Bank of Ghana (BoG), alleging mismanagement of the Central Bank.
Additionally, the Finance Minister’s article called for support for the construction of a new and fitting office for the Bank of Ghana.
Responding to Ofori-Atta’s claims, Minority Leader Ato Forson issued a statement, asserting that the Mahama administration left behind a robust economy.
He challenged Ofori-Atta’s assertion, stating, “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.”
He further emphasized that during the Mahama tenure, Ghana had a strong and thriving economy, which allowed the Akufo-Addo/Bawumia government to secure a substantial loan of US$2.25 billion from Franklin Templeton within the first three months of its assumption of office.
Ato Forson maintained that the NDC government performed remarkably well compared to the current state of affairs 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,” Forson affirmed. He added that the Minority in Parliament believes that the day of accountability is drawing near, and government officials will be held responsible for their actions.
He added that history would remember Ofori-Atta for leading Ghana to the IMF in an ambulance and called for the resignation of the Bank of Ghana Governor, stating, “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.”