The Minority Leader, Dr. Cassiel Ato Baah Forson, has criticized the Ghanaian government for signing what he considers one of the worst programs under the International Monetary Fund (IMF).
He lambasted the government for initially denying the need for IMF assistance despite clear signs of economic distress.
Dr. Forson, speaking at the University of Professional Studies, Accra (UPSA), highlighted that the Akufo-Addo-Bawumia government eventually resorted to an IMF program, which he referred to as “the worst form of an IMF program since Mansa Musa went on a pilgrimage to Mecca.”
He drew attention to the fact that this particular IMF program involved a debt restructuring program, which included “haircuts”—the first such program in Ghana’s history.
Dr. Forson argued that this debt restructuring had negative consequences for all economic classes, from the rich to the middle class and the poor.
Furthermore, Dr. Ato Forson took issue with the performance of the Bank of Ghana and called for the resignation of the central bank’s Governor.
This demand resonated with the theme of the event, which was to discuss the current state of the Ghanaian economy.
In a move of protest, the Minority has announced plans for a march on September 5 to demand not only the resignation of the Bank of Ghana Governor but also that of his two deputies and directors of the bank.
The discontent expressed by the Minority reflects ongoing concerns about the state of Ghana’s economy and the government’s handling of financial matters.
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