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Skilled negotiators needed for IMF engagements, replace Bawumia, Ofori-Atta - Mahama

BY: Graphic Online
Skilled negotiators needed for IMF engagement, replace Bawumia, Ofori-Atta - Mahama

Former President John Dramani Mahama has welcomed the decision of President Nana Addo Dankwa Akufo-Addo to commence formal engagements with the International Monetary Fund (IMF) on an economic support programme.

However, he has reiterated calls for the President to sack Finance Minister, Ken Ofor-Atta and replace Vice President Mahamudu Bawumia as the Chairman of the Economic Management Team before the negotiations with the IMF.

"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 posted on Facebook on Saturday morning (July 2, 2022), a day after the government announced the decision to go the IMF for support.

"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 [Bawumia] must be relieved of his responsibility as Chair of the Economic Management Team to enable the President to reconstitute the team."

Mr Mahama added that the decision should "mark an important step towards addressing the dire economic situation, which has left Ghanaians wallowing under intense suffering and hardships".

He also 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. It is imperative that a team of skilled and competent negotiators is put together to obtain the best set of measures with the Fund".

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.