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 determination should be faulted for Ghana's superfluous deferral to connect with the IMF for a bailout.
Talking in a Citi News interview, Mr. Terkper said, "on the off chance that you read the MPC reports, it continued highlighting the monetary crumbling utilizing points of strategy validity. The straw that broke the camel's back was our minimization from B classification to C. On the off chance that this was not sufficiently disturbing to specialists, then, at that point, what ought to caution?"
He contended that the ongoing condition Ghana winds up in is the most awful 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 very 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 adequately early, Ghana would have been at cutting edge stages in its discussions with the asset.
"Before, when we went to the asset, we didn't get to this level. What is astounding was the determination of the Minister of Finance [which] must be adjusted by the president since taking a gander at the numbers, it wasn't great. The circumstance was getting critical and government was hitting a brick wall, and the time had come to think about an IMF strategy choice as a dependable one," he said.
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