EX-PRESIDENT John Dramani Mahama has become involved in a dispute with the International Monetary Fund (IMF) about Ghana\u2019s current economic challenges, insisting that bad policies of the Akufo-Addo administration have landed the nation in the woes.<\/p>\n\n\n\n
Managing Director of the IMF, Kristalina Georgieva, recently said Ghana\u2019s economy was hurt by \u201cexogenous shocks\u201d and pointed to the twin issues of COVID-19 pandemic and Russia\u2019s war in Ukraine as contributing factors.<\/p>\n\n\n\n
\u201cFirst the pandemic, then Russia\u2019s war in Ukraine, and that we need to realise is not because of bad policies in the country, but because of these combination of shocks, and, therefore, we have to support Ghana,\u201d she stated on the sidelines of the Fund\u2019s engagements with the Ghanaian delegation.<\/p>\n\n\n\n
Mahama Contention<\/strong><\/p>\n\n\n\n However, former President Mahama, who is seeking to lead the opposition National Democratic Congress (NDC), took issue with a passage in which the IMF boss looked at Ghana\u2019s problem, arguing that the government\u2019s poor economic decision compounded the economic woes of the country.<\/p>\n\n\n\n In a discussion with the United States Ambassador to Ghana, Virginia E. Palmer, he referred to the banking sector cleanup as one of the many poor decisions the Akufo-Addo government took to inflict pain on the economy.<\/p>\n\n\n\n According to him, the New Patriotic Party (NPP) government also misappropriated funds secured in the name COVID-19 by allegedly sharing it to party officials.<\/p>\n\n\n\n Mr. Mahama, who spoke on regional security, review of Ghana\u2019s constitution, investment in local industries, and electoral matters, indicated that the government received some GH\u00a230 billion in COVID-19 relief support from internal and external sources, which was more than sufficient to keep the country\u2019s economy on good footing, if the government had acted prudently.<\/p>\n\n\n\n The NDC 2020 presidential candidate, however, was hopeful that the government would be disciplined, if the country\u2019s programme with the IMF comes on stream.<\/p>\n\n\n\n \u201cWe have been very restrained in our opposition because we know the seriousness of the situation. We have been very generous in giving advice about what they should do,\u201d he stated.<\/p>\n\n\n\n