Ghana facing economic distress
I will not resign as finance minister – Ofori-Atta declares
A former General Secretary of the governing New Patriotic Party, Kwabena Agyei Agyapong, has backed calls for Finance Minister, Ken Ofori-Atta to resign from his post.
The call is on the back of government's decision to engage the International Monetary Fund for an economic bailout programme – a position that Ken Ofori-Atta had vehemently opposed publicly and vowed will not be taken.
Due to this, Kwabena Agyapong believes the finance minister must in his own volition tender his resignation following an earlier anti-IMF stance.
“I will think that based on what he (Ofori-Atta) said two weeks before to the whole country, which is that we will never go to the IMF and we are a proud country and we have the resources."
“When you speak like that, you should look yourself in the mirror and say ‘I got it wrong,’ Mr. President I thank you for the opportunity and I should stand down,” Agyapong stated on the Hard Truth show.
Meanwhile, the finance minister has rejected calls for him to resign and likened the assertion to an abandonment of children by a father.
“It is almost like telling a father to resign from his children because he is changed his mind. There are times that decisions have to be made for the survival of a country and therefore if circumstances such as COVID-19 or the Ukraine war occur which are not typical, it does change the environment, and sensible people will change their minds,” Ofori-Atta explained.
Background
It will be recalled that government hitherto used to borrow from the Eurobond market however unfavourable economic conditions have compelled it to initiate contacts with IMF on the orders of President Akufo-Addo to Finance Minister Ken Ofori-Atta.
Government hopes that through this approach, confidence from lenders will bounce back.
Consequently, the IMF arrived in Ghana from July 6-13 to begin initial discussions on the programme government intends to subscribe to.
The team, which has concluded its visit, recommitted to helping the country to restore macroeconomic stability, safeguard debt sustainability, promote inclusive and sustainable growth, and address the impact of the war in Ukraine and the lingering pandemic.
MA/FNOQ
Finance Minister, Ken Ofori-Atta