Previous Finance Minister, Seth Terkper says Ghana is going to the International Monetary Fund (IMF) excessively late, particularly when, from all signs, obviously the economy was set out toward additional troublesome times.
He said Finance Minister Ken Ofori-Atta's resoluteness should be faulted for Ghana's superfluous deferral to draw in the IMF for a bailout.
Talking in a Citi News interview, Mr. Terkper said, "in the event that you read the MPC reports, it continued highlighting the monetary decay utilizing points of strategy validity. The straw that broke the camel's back was our minimization from B classification to C. In the event that this was not sufficiently disturbing to specialists, then the thing ought to caution?"
He contended that the ongoing condition Ghana winds up in is the most terrible it has been prior to looking for an IMF program.
The Ministry of Information on Friday, July 1, 2022, declared that President Akufo-Addo had given endorsement for Ghana to start commitment with the IMF for a bailout.
The Information Ministry said the Minister for Finance, Ken Ofori-Atta will be driving the exchanges with the IMF before long.
The news has been gotten with blended sentiments. This will be the seventeenth time Ghana is going to the IMF for help.
The sixteenth time was under the John Mahama organization in 2015 and finished in 2019.
Terkper accepts that had the public authority acted sufficiently early, Ghana would have been at cutting edge stages in its discussions with the asset.
"Previously, when we went to the asset, we didn't get to this level. What is astonishing was the inflexibility of the Minister of Finance [which] must be remedied by the president since taking a gander at the numbers, it wasn't great. The circumstance was getting desperate and government was hitting a dead end, and the time had come to think about an IMF strategy choice as a valid one," he said.
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