Cause of economic problems: Mahama ‘fires’ IMF boss for ‘defending’ government

Former President John Dramani Mahama has described comments by the Managing Director of the International Monetary Fund (IMF) as factually inaccurate.

The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva asked Ghanaians to be patient with the government over the economic downturn.

She said the hardship the country is facing is not due to bad policies.

According to her, the Covid-19 pandemic and the Russia-Ukraine war have affected the country negatively.

“First the pandemic, then Russia’s war in Ukraine. We need to realize that it is not because of bad policies in the country but because of this combination of shocks, and, therefore, we have to support Ghana”, she said.

Reacting to the comments in a Facebook post, Former President John Dramani Mahama asked the Managing Director of the International Monetary Fund (IMF) to be truthful when commenting on Ghana’s economic woes.

According to Mahama the reason for the “mess” the country finds itself currently are clear for all to see.

He insisted that it was a result of bad policies by the government that has led the country to this economic ditch.

‘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 the wrong diagnosis and prescribe inappropriate remedies.”

“The consequences of the government’s ill-advised policies such as the botched, insensitive, and dubious cost of 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”, Mahama said in a post.