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IMF bailout: Akufo-Addo, Ofori-Atta, Bawumia suffering from credibility deficit – Minority

IMF bailout: Akufo-Addo, Ofori-Atta, Bawumia suffering from credibility deficit – Minority

Minority in Parliament has urged the book runners of Ghana’s crippled economy including President Akufo-Addo, his vice Dr. Mahamudu Bawumia, abysmal and poor showing Finance Minister Ken Ofori-Atta to solely take responsibility for resorting to an International Monetary Fund (IMF) bailout in an ambulance after self-inflicted worst economic crisis, arising from their unbearable penchant for borrowing from GHC120 billion in 2016 to GHÇ400 billion extenal debt stock.

President Akufo-Addo’s cousin, Gabby Asare Otchere-Darko and other NPP party faithful have been struggling to justify and attribute the government movement the IMF bailout to the delay in the passage of the Electronic Transfer Levy (E-levy).


The appointees believe that the 10% revenue generation from the E-levy has compelled the government to eat back its words of never running to the fund for help.

Speaking to the media in Parliament Wednesday, Minority Leader Haruna Iddrisu argued that the President must rather blame his Vice who doubles as Chairman for his Economic Management Team (EMT), Dr. Mahamudu Bawumia and Finance Minister, Ken Ofori-Atta for the crisis the country finds itself in.

“We want to state unequivocally that President Nana Addo Danquah Akufo-Addo and Dr. Mahamudu Bawumia should take full responsibility for incompetently managing the economy. Suffocating debt levels which has necessitated the retreat for us to request an agreement with the International Monetary Fund for the restructuring of our debt.

“As they take full responsibility as they should, they should also take responsibility for their reckless irresponsible borrowing and unjustified recruitment expenditure,” the Minority Leader stated.

According to him, many of those blaming former President John Mahama are behaving as class six pupils adding that they should stop engaging in childish behaviors.

“They should stop any attempt to shift blame. E-levy remain unpopular tax instrument and therefore the fact that it is passed does not mean it has the support of us the Minority,” the Tamale Central MP disclosed.

Ranking member for the Committee on Finance, Cassiel Ato Forson has also cautioned the public to brace itself for the worst indicators on cost of living among other economic challenges.

Ken Ofori-Atta

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