Heeding Mahama’s advice would have prevented us from going to IMF on a stretcher – Sammy Gyamfi to Akufo-Addo

Sammy Gyamfi
Sammy Gyamfi

The National Communications Officer of the National Democratic Congress (NDC) says President Akufo-Addo’s intransigence is what has delayed the country’s IMF bailout.

According to Sammy Gyamfi, government failed to act on the advice former president, John Dramani Mahama proffered.  Speaking in an interview with TV3 on Wednesday, March 21, he said had government gone to the Bretton Woods Institution earlier following Mr. Mahama’s counsel, the economy would not have deteriorated to crisis level.

He thus berated President Akufo-Addo and his government for failing to listen and seeing the signs of this economic turmoil.

“I get very surprised when our friends in the NPP speak like that and say that we have no policy alternatives because it is either they have a listening problem or they simply do not understand simple language or simple issues. 

“Were they not in the country when we held the ‘Ghana At Crossroads Lecture” addressed by His Excellency John Dramani Mahama at Kempinski Hotel and outlined 11 policy measures for the consideration of this government.

“At that event, former President Mahama was the first person in this country to call on the government to go to the IMF as early as possible to salvage what was left of this economy. 

“If they have listened to that wise counsel, we would not have ended up there later on a stretcher and maybe we could have taken advantage of the DSSI programme of the IMF,” he said.

Already, the Minority Leader, Dr Cassiel Ato Forson has cast doubt on the possibility of government securing an IMF Board approval this month.  He said the process that would lead to a consideration of Ghana’s request by the IMF Board has not even started.

Dr Ato Forson said these processes will only start when China agrees to give Ghana a debt financing assurance. However, the Ajumako Enyan Essiam MP said China is currently not ready to accept the haircut being proposed by the Ghanaian government.

Ghana is currently before the Bretton Woods Institution for a $3 billion bailout.  As a result, the government has renegotiated its domestic debt and is on course with foreign partners as well.  Due to this, President Akufo-Addo during the 2023 state of the nation address was confident the government can secure the deal by the end of the month.

According to the President, the government is systematically fulfilling the terms of the staff-level agreement reached with the IMF.

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