The Economic Management Team (EMT) should be led by someone else since Vice President Dr. Mahamudu Bawumia has failed, according to former President John Dramani Mahama.
Additionally, Mr. Mahama stated that Ken Ofori-Atta, the finance minister, cannot and should not be a member of the negotiating team for negotiations with the International Monetary Fund since he oversaw the devastating collapse of the economy (IMF).
In a statement on Saturday, July 2, Mr. Mahama stated, "The Finance Minister who has presided over the calamitous collapse of the economy cannot and should not be part of the team of negotiators. We applaud the Akufo-Ado administration's decision to go to the IMF. He no longer commands the respect and confidence of our stakeholders.
President Akufo-Addo has to make the brave choice to appoint a new finance minister right away who is capable and confident enough to work diligently to improve our nearly dismal position.
Additionally, in order for the President to reassemble the Economic Management Team, the Vice President must be dismissed of his duties as the team's chair due to his clear failings. We must learn from this experience and refrain from using the economy for political gain; doing so would only result in the same tragic results that have led us to this point, Mr. Mahama said on Facebook on Saturday, July 2.
After speaking on the phone with IMF Managing Director Miss Kristalina Georgieva to inform her of Ghana's resolve to work with the Fund, President Akufo-Addo instructed Mr. Ofori-Atta to begin negotiations with the Fund on Friday, July 1.
This was disclosed in a statement released by the Ministry of Information on Friday, July 1.
John Kumah, the deputy minister of finance, said that an IMF programme would hasten the nation's recovery from its economic problems.
He stated that the administration is hoping the scheme would help the nation.
"As a government, our goal is to regain public trust in the economy and help it recover from the difficulties and problems it is now facing, not only in Ghana but in practically all other economies worldwide.