• Home
  • Politics
  • News
  • Business
  • Health
  • Entertainment
  • Sports
  • Lifestyle
  • Education
  • Opinion
Wednesday, 31 May, 2023
  • Login
topfmonline.com
 
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Health
  • Lifestyle
  • Sports
  • Education
  • Technology
  • Foreign
No Result
View All Result
topfmonline.com
No Result
View All Result
Home News

Govt’s decision to seek IMF bailout late but welcoming – Mahama

TOPFM NEWS by TOPFM NEWS
July 4, 2022
in News
A A
0
Govt’s decision to seek IMF bailout late but welcoming – Mahama
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

Former President John Mahama has welcomed the government’s decision to begin engagements with the International Monetary Fund for a bailout programme to help revive the economy, although he says the decision was taken a little too late.

In a statement, Mahama said the announcement by the government is important to help address the many challenges that have plagued the Ghanaian economy.

He however said the government must develop a more impactful home-grown programme that will complement the IMF programme that will be agreed upon after negotiations.

“I welcome President Akufo-Addo’s decision to formally engage the IMF with the view to entering into a programme under the Fund. Though belated, it should mark an important step towards addressing the dire economic situation, which has left Ghanaians wallowing under intense suffering and hardships,” he said.

The Ministry of Information on Friday, July 1, 2022, announced that President Akufo-Addo had given approval for Ghana to begin engagements with the IMF for a bailout.

The statement added that the Minister for Finance, Ken Ofori-Atta will be leading the negotiations with the IMF but John Mahama in his statement said the minister must not be allowed to be part of the team of negotiators.

“He has lost credibility and the trust and confidence of stakeholders in our economy. President Akufo-Addo must take a bold decision to replace his finance minister immediately with a more assured and competent person who is willing and able to work tirelessly to turn our almost hopeless situation around,” Mahama indicated.

He further reiterated his earlier call for Vice President Mahamudu Bawumia to be removed from his post as the chairman of the economic management team “given his obvious failures.”

Read Mahama’s full statement below:

I welcome President Akufo-Addo’s decision to formally engage the IMF with the view to entering into a programme under the Fund.

Though belated, it should mark an important step towards addressing the dire economic situation, which has left Ghanaians wallowing under intense suffering and hardships.

Beyond the announcement of engagement with the IMF, a comprehensive home-grown programme should be fashioned out and presented to the Fund for support. It is imperative that a team of skilled and competent negotiators is put together to obtain the best set of measures with the Fund.


The Finance Minister who has supervised the disastrous collapse of the economy cannot and should not be part of the team of negotiators. He has lost credibility and the trust and confidence of stakeholders in our economy.

President Akufo-Addo must take a bold decision to replace his finance minister immediately with a more assured and competent person who is willing and able to work tirelessly to turn our almost hopeless situation around.

In addition, given his obvious failures, the Vice President must be relieved of his responsibility as Chair of the Economic Management Team to enable the President to reconstitute the team.

We must draw useful lessons from this episode and avoid cheap politicking with the economy; that can only yield the disastrous outcomes that have brought us here.

Related Posts

Minority demands immediate transfer of shares held by Jubilee Holdings to GNPC

Minority demands immediate transfer of shares held by Jubilee Holdings to GNPC

May 30, 2023
2
Anglogold mine incident: Soldiers move to restore calm in Obuasi

Anglogold mine incident: Soldiers move to restore calm in Obuasi

May 30, 2023
1
Source: Jonas Nyabor
Via: Citinewsroom
Tags: Govt’s decision to seek IMF bailout late but welcoming – Mahama
Previous Post

Facebook begins testing NFTs with select creators in the US

Next Post

US to Ukraine advanced surface-to-air missile systems

Related Posts

Minority demands immediate transfer of shares held by Jubilee Holdings to GNPC
News

Minority demands immediate transfer of shares held by Jubilee Holdings to GNPC

May 30, 2023
2
Anglogold mine incident: Soldiers move to restore calm in Obuasi
News

Anglogold mine incident: Soldiers move to restore calm in Obuasi

May 30, 2023
1
ECOWAS Parliament Speaker confirms Winneba as 2023 extraordinary session host
News

ECOWAS Parliament Speaker confirms Winneba as 2023 extraordinary session host

May 30, 2023
1
Trapped illegal miners not confined; they can exit on foot – AngloGold
News

Trapped illegal miners not confined; they can exit on foot – AngloGold

May 30, 2023
1
Supreme Court cautions and discharges Kpessa-Whyte
News

Supreme Court cautions and discharges Kpessa-Whyte

May 30, 2023
0
Asantehene destools Antoa chief
News

Asantehene destools Antoa chief

May 30, 2023
1
Next Post
US to Ukraine advanced surface-to-air missile systems

US to Ukraine advanced surface-to-air missile systems

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

BROWSE BY CATEGORIES

  • Business
  • Education
  • Entertainment
  • Foreign
  • Health
  • Lifestyle
  • News
  • Opinion
  • Politics
  • Sports
  • Technology
  • Uncategorized

BROWSE BY TOPICS

2022 Budget Afghanistan akufo addo Amazon Apiate explosion apple AT&T Black Stars covid COVID-19 COVID 19 E-Levy facebook Fuel Ghana Police Service Google Government health Intel iphone Mahama Majority Microsoft Minority momo NDC news NLC NPP Nvidia OMICRON Parliament police Russia security South Africa Taliban tech Tesla twitter US UTAG vaccine vaccines Xinjiang

Recent Posts

  • Minority demands immediate transfer of shares held by Jubilee Holdings to GNPC
  • Assin North: Parliament declares seat vacant; orders EC to hold by-election
  • Anglogold mine incident: Soldiers move to restore calm in Obuasi
  • ECOWAS Parliament Speaker confirms Winneba as 2023 extraordinary session host
  • Group officially hands over nomination form to Bawumia

Recent Comments

No comments to show.

RECENT NEWS

  • Minority demands immediate transfer of shares held by Jubilee Holdings to GNPC May 30, 2023
  • Assin North: Parliament declares seat vacant; orders EC to hold by-election May 30, 2023
  • Anglogold mine incident: Soldiers move to restore calm in Obuasi May 30, 2023
  • ECOWAS Parliament Speaker confirms Winneba as 2023 extraordinary session host May 30, 2023

MAIN CATEGORIES

  • Business
  • Education
  • Entertainment
  • Foreign
  • Health
  • Lifestyle
  • News
  • Opinion
  • Politics
  • Sports
  • Technology
  • Uncategorized

Entertainment

Ghana lifts COVID-19 restrictions at all entry points
Health

Ghana lifts COVID-19 restrictions at all entry points

1 week ago
0
  • ABOUT US
  • CONTACT
  • ADVERTISE

© 2023 Top Media Group - Powered by BackUp Data Systems

No Result
View All Result
  • Home
  • Politics
  • News
  • Business
  • Health
  • Entertainment
  • Sports
  • Lifestyle
  • Education
  • Opinion

© 2023 Top Media Group - Powered by BackUp Data Systems

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In