Former President John Dramani Mahama is fighting off claims by the Director of the International Monetary Fund (IMF) Kristalina Georgina to the effect that Ghana’s economic challenges are not due to bad policies.
The IMF boss attributed Ghana’s prevailing weak economic conditions to shocks from the Covid pandemic and the Russian-Ukraine war.
According to her, shocks from the two unforeseen factors have heavily impacted the economy and are to be blamed for the country’s woes and not “bad policies” said to be implemented by the government.
“Like everybody on this planet you have been hurt by exogenous shocks. First the pandemic, then Russia-Ukraine. And then the we need to realise is not because of bad policies in the country, but because of this combination of shocks,” she added.
The IMF Director added that Ghana, as a strong country in the sub-region, ought be supported by the IMF to bounce back because the strength of Ghana impacts positively on neighbouring countries.
“And therefore, we have to support (Ghana) because you’re a member. You’re a strong country, you have fantastic people, but also we have to support Ghana because your strength contributes to the strength of your neighbours. It contributes to a stronger world,” she told journalists at the ongoing Africa Climate Change Adaptation Summit.
But Mr Mahama said “while the norm in international diplomacy of being guarded in what one says is appreciated, comments by high ranking officials must be grounded on facts that take into consideration local realities and opinions.
“The incontrovertible fact is that, Ghana is in a mess due to the BAD POLICIES of this government, which have contributed massively to the dire state of affairs.
“International diplomats must consider these facts and not just ignore them; lest they make wrong diagnosis and prescribe inappropriate remedies,” he said in a statement…
Below is his full statement…
It is a relief to hear Madam Kristina Grigoreva reaffirm the commitment of the IMF to support the people of Ghana in these perilous times.
Ghanaians are undeserving of the uncertainty and hardship resulting from the ineptness of the Nana Akufo-Addo administration that has contributed massively to this mess.
While the norm in international diplomacy of being guarded in what one says is appreciated, comments by high ranking officials must be grounded on facts that take into consideration local realities and opinions.
The incontrovertible fact is that, Ghana is in a mess due to the BAD POLICIES of this government, which have contributed massively to the dire state of affairs.
International diplomats must consider these facts and not just ignore them; lest they make wrong diagnosis and prescribe inappropriate remedies.
The consequences of the government’s ill-adviced policies such as the botched, insensitive and dubious cost in closing down locally owned banks, unbridled levels of corruption and lack of accountability including the mismanagement of COVID-19 funds, unconventional borrowing practices riddled with opaqueness and conflicts of interest, resulting in an unsustainable debt envelope, costly, experimental and untested programmes, etc., cannot be ignored in understanding the current dire state of the Ghanaian Economy.
The Ghanaian economy must be managed first for the Ghanaian who lives and experiences it daily, not just for an international audience.