Former President John Dramani Mahama said Ghana’s return to the International Monetary Fund for a bailout is proof that President Akufo-Addo’s ‘Ghana Beyond Aid Agenda’ is just talk with no action.
The former President, who was the Special Guest of Honour at the 7th Ghana CEOs Summit, noted that Ghana has become the punchline of jokes as a result of the country’s readmission to the IMF under Nana Addo Dankwa Akufo-Addo’s administration.
“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.”
It will “require the ability to determine our own economic policies that prioritize the well-being of our citizens, and create an environment conducive to the advancement of sustainable growth and development for job creation,” according to the former President.
On Friday, May 19, Ghana got $600 million from the International Monetary Fund (IMF), the first installment of a $3 billion rescue plan.
Ghana’s bailout will include seven different payouts, according to Minister of Information Kojo Oppong Nkrumah.
“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 chastised President Akufo-Addo for introducing the Income Tax Amendment Bill, Excise Duty and Excise Tax Stamp Amendment, as well as the Growth and Sustainability Taxes.The NDC’s leader said that taxation should not be used to raise funds for wasteful spending, but rather should be based on sophisticated and broad-based data analytics.
