Taking into account their inability to control the economy of Ghana to progress, Vice-President Mahamudu Bawumia should be feeling better of his situation as Chairman of the Economic Management Team, previous President John Dramani Mahama has proposed to President Nana Akufo-Addo.
Likewise, Mr Mahama has encouraged President Akufo-Addo to reject Finance Minister Ken Ofori-Atta from the group that would arrange a bailout program with the International Monetary Fund (IMF).
Mr Mahama, in a proclamation inviting the public authority's choice to go in for a bailout, sounded a note of mindfulness that "the Finance Minister, who has regulated the deplorable breakdown of the economy, can't and ought not be essential for the group of moderators", making sense of: "He has lost validity and the trust and certainty of partners in our economy".
"President Akufo-Addo should take a striking choice to supplant his money serve promptly with a more guaranteed and capable individual, who is willing and ready to work vigorously to turn what is happening near", Mr Mahama emphasized.
"Likewise, given his conspicuous disappointments, the Vice-President should be feeling significantly better of his obligation as Chair of the Economic Management Team to empower the President to reconstitute the group".
Mr Mahama, likewise said: "I invite President Akufo-Addo's choice to draw in the IMF with the view to going into a program under the Fund officially".
"However late, it ought to check a significant stage towards tending to the desperate monetary circumstance, which has left Ghanaians floundering under extraordinary affliction and difficulties", Mr Mahama noted.
President Akufo-Addo as of late coordinated Finance Minister Ken Ofori-Atta to start converses with the IMF for a bailout.
An assertion gave by Information Minister Kojo Oppong Nkrumah on Friday, 1 July 2022, said: "The President of the Republic, Nana Addo Dankwa Akufo-Addo, has approved Finance Minister Ken Ofori-Atta to initiate formal commitment with the International Monetary Fund (IMF), welcoming the Fund to help a financial program set up by the Government of Ghana."
"This follows a phone discussion between the President and the IMF Managing Director, Miss Kristalina Georgievs, passing Ghana's choice on to draw in with the Fund," the assertion said.
"The commitment with the IMF will look to give an equilibrium of installment support as a component of a more extensive work to enliven Ghana's work back notwithstanding difficulties initiated by the Covid-19 pandemic and, as of late, the Russia Ukraine emergencies
The economy has been in difficult situations for quite a while.
Fuel costs continue rising, the cedi continues deteriorating, expansion continues to take off, and the expense of labor and products and continue to rise.
As of March 2022, Ghana's complete obligation stock remained at GH¢391.9 billion.
In Mr Mahama's view: "Past the declaration of commitment with the IMF, an exhaustive local program ought to be molded out and introduced to the Fund for help.
It is basic that a group of gifted and capable moderators is assembled to get the best arrangement of measures with the Fund, he prompted.
We should draw valuable examples from this episode and stay away from modest politicking with the economy; that can yield the deplorable results that have brought us here.
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