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Mahama’s 4 recommendations to Akufo-Addo after joining IMF

Former president John Mahama has urged the Akufo-Addo government to get a team competent negotiators to engage with the IMF as the country seeks support from the fund.

Although he believes Akufo-Addo’s decision to seek help from the Bretton Woods institution is a tad too late, the 2020 flagbearer of the NDC said the move “should mark an important step towards addressing the dire economic situation, which has left Ghanaians wallowing under intense suffering and hardships.”

In a statement posted on his Facebook timeline, Mahama indicated that beyond the announcement of engagement with the IMF, “a comprehensive home-grown programme should be fashioned out and presented to the Fund for support.”

In his advice, the former president cautioned the Akufo-Addo administration to sack Finance Minister Ken Ofori-Atta.

“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,” he argued.

Ken Ofori-Atta (L) and President Akufo-Addo (R) while the former was appointed as Finance Minister

Mahama’s advice comes after President Akufo-Addo ordered Ofori-Atta to begin talks with IMF to save the country’s economy.

Below is Mahama’s statement;

I welcome President Akufo-Addo’s decision to formally engage the IMF with the view to entering into a programme under the Fund.

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

Beyond the announcement of engagement with the IMF, 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.

 

Source: Myxyzonline.com|Ghana

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