Deputy Minister of Finance, Dr. John Kumah has refuted claims by the National Democratic Congress which suggests President Akufo-Addo’s government is heading back to the IMF for policy credibility.
John Kumah has noted that the NDC is just speculative and so Ghanaians should treat their claims with the contempt it deserves.
John Kumah who doubles as the Member of parliament for Ejisu Constituency admitted that there’s been an increase in Ghana’s total debt but it does not necessarily mean that Ghana could go back to IMF.
Speaking to Omanhene Yaw Adu Boakye on Kessben Maakye, he opined that the Covid-19 pandemic outbreak has contributed so much to the increase in Ghana’s debt rate.
He added that Akufo-Addo is committed to the Fiscal Responsibility Act which requires that the country’s fiscal deficit must not go beyond 5%.
But Dr. Ato Forson at the Policy Dialogue in Accra on Monday 26th July 2021 revealed that due to the bad management of the economy under the watch Akufo-Addo and Bawumia, Ghana is heading back to the IMF.
Mr. Ato Forson has described current Ghana’s economy as the worse in recent history.
Hon. Ato Forson who is the Ranking Member on Parliament’s Finance Committee issued a warning to the government to as a matter of urgency put measures in place in dealing with the huge budget deficits.
Ato Forson noted that Akufo-Addo’s government alone is responsible for 60% of Ghana’s debt stock but John Kumah disagrees with some of the assertions raised by Ato Forson.
“If you check the reality of what happened under Nana Akufo-Addo government, like covid-19 and its associated challenges to deal with”
“Now, these are very challenging moment that President Akufo-Addo has been dealing with, but he has managed it so well that he has won the world commendation” Dr. John Kumah added