President John Dramani Mahama says his government was forced to take bitter decisions to meet performance requirements for its Extended Credit Facility (ECF) with the International Monetary Fund (IMF).
Speaking at a diaspora town hall meeting in the United Kingdom as part of a working visit, he accused the erstwhile Akufo-Addo/Bawumia administration of derailing the Facility.
He averred that the then government, after the performance review in June 2024, went off track.
“Unfortunately, after the fourth review, all the performance criteria from June 2024 had gone completely off track. The IMF programme was completely derailed off-track. We had to take very stringent, bitter decisions,” he noted.
Meanwhile, Minister of Finance, Dr. Cassiel Ato Baah Forson, also speaking at the town hall meeting, lauded the achievements of the Economic Management Team (EMT) of the Mahama administration for bringing the economy back on the path of progress.
Rated as a junk economy by several rating agencies under the previous government, Dr. Forson said Ghana is now back on track.
According to him, the prudent management of the economy with the fiscal policies adopted since the takeover from the erstwhile government has positioned the country at a place where it has become attractive to investors. “Our country is back,” he stated.
Listing some of the successes chalked by the EMT, Dr. Forson said the country currently rocks shoulders with the largest economies on the continent, due to the robust initiatives deployed by the Government.
“Today, Ghana is ranked the eighth largest economy in Africa,” he stated, highlighting on the current current Gross Domestic Product (GDP) which he assured was going to be sustained.
“Our GDP per capita is now $3,385 for the first time and our debt is now sustainable, unlike in the past. The gains made will be sustained,” he stated.
President John Dramani Mahama as part of his working visit to the U.K., is expected to hold a Breakfast Meeting with Prime Minister Keir Starmer and pay a royal visit to King Charles III.
Mahama condemns xenophobic attacks in South Africa, says it’s a setback to African unity
