Our return to IMF shows ‘Ghana beyond Aid’ is just rhetoric – Mahama

Former President John Dramani Mahama says Ghana’s return to the International Monetary Fund to seek a bailout is a clear indication that President Akufo-Addo’s ‘Ghana Beyond Aid Agenda’ is mere rhetoric with no action.

The former President, who was the Special Guest of Honour at the 7th Ghana CEOs summit added that Ghana had become the butt of jokes due to the country’s return to the IMF under the leadership of Nana Addo Dankwa Akufo-Addo.

“Indeed our return to the IMF – cup in hand – has made our Ghana Beyond Aid policy the butt of jokes amongst many commentators in the world. It will take a resolute and committed political will to determine our own economic destiny.”

According to the former President, it will “require the ability to determine our own economic policies that prioritise the well-being of our citizens, and create an environment conducive for the advancement of sustainable growth and development for job creation.”

Ghana received an amount of $600 million from the International Monetary Fund (IMF), the first tranche of the $3 billion bailout package on Friday, May 19.

Minister of Information, Kojo Oppong Nkrumah who confirmed the information said there will be seven different disbursements under Ghana’s bailout.

“Yes, that’s the confirmation I have. As we have mentioned, there are supposed to be 7 different disbursements, the first being the $600 million received on the back of conclusion of the approval by the Board,” he told sit-in host of Eyewitness News, Nii Larte Lartey.

Mr. Mahama also slammed President Akufo-Addo over the introduction of the Income Tax Amendment Bill, Excise Duty, and Excise Tax Stamp Amendment, and Growth and the Sustainability taxes.

The flagbearer of the NDC argued that taxation should not be used as a means to gather money for frivolous expenditures but should instead be anchored on intelligent and broad-based data analytics.