An NDC Member of Parliament has cast doubt on Ghana’s ability to secure a viable bailout deal with the International Monetary Fund Isaac Adongo has said
Ghana is not likely to secure a good deal because Finance Minister Ken Ofori-Atta does not have the right competence to lead negotiations He has called on
President Nana Akufo-Addo to fire the minister and current officials at the Finance Ministry because they have failed their mandate
A financial management specialist affiliated with the opposition National Democratic Congress (NDC) has cast doubt on Ken Ofori-Atta’s ability to negotiate a suitable International Monetary Fund (IMF) deal for Ghana.
According to the legislator for Bolgatanga Central, the finance minister has publicly stated his disagreement with an IMF programme. In the view of the MP,
because the minister has held that an IMF deal was terrible for the country, he won’t do an excellent job for the country now that he has been directed to negotiate the deal.
“They [Akufo-Addo-led government] has already started [negotiations with IMF] on a faulty leg. Asking Ken Ofori-Atta to begin negotiations is equivalent to telling the IMF that we don’t want a programme. Ken Ofori-
Atta lacks the capacity and is not fit for this purpose,” he told journalists. He also said Ghana could land a lousy deal because the current Ministry of Finance team is not competent.
“NPP is going to IMF at a time where they have no blueprint. Chances are that we are going to have…a programme from the perspective of the IMF and not from the perspective of the country,” Isaac Adongo said.
As ex-President John Mahama suggested recently, Mr Adongo has asked President Nana Akufo-Addo to fire Ken Ofori-Atta and his deputies because they performed poorly.
“The ministry of finance needs a complete upgrade in order that we may have a credible programme from the IMF,” the MP said.