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The Finance Minister's statement that Ghana's exit from another IMF program is an attestation of the top management of the economy by the NPP government has not worked well with NDC MP FK Kwetey .
In a seven-minute speech, the MP for Ketu South described Ken Ofori-Atta's badysis of the economy as being similar to that of a lone supporter of the party.
The opposition member, a former badistant finance minister, first addressed a problem with the request of the Minister of Finance. Ghana signed a three-year extended credit facility with the IMF in 2015 to fill a financial gap of $ 930 million.
"I can understand if this comes from a simple soldier, but come from a finance minister, it's absolutely unacceptable," he said.
According to Fifi Kwetey, this figure is too thin and derisory to force the NDC government to ask for a bailout from the IMF.
This is all the more true that, according to him, the NDC administration under Mahama had spent a lot more in infrastructure to account for a lack of funds of $ 930 million, enough for a bailout of the IMF.
But his main problem was what he saw as an attempt by the government to claim a crown of "economic messiah" as Ghana left the IMF program in 2019.
He added that history does not give this importance to the NPP, because soon after leaving the IMF in 2006, the NPP government led by President John Kufuor, lifted the budget restrictions and s 39; is launched into reckless spending.
Despite a budget deficit target of about 4% in 2008, the NPP government has recorded a 15% deficit, a loss of 11%, which it has described as higher than ever.
"The fact that we left the IMF does not mean we are out of the woods, because your history shows that you have already left the IMF, but the damage you left two years after their completion was absolutely terrible," he said. he started. .
Fifi Kwetey also noted one of the many macroeconomic indicators, inflation, and said that in 2008, two years after the departure of the IMF's NPP government, this figure was 18%.
He did not believe that the NPP would qualify the economy inherited from the NDC when the NDC would have left an inflation rate of 15%.
"If you call 15.4% … a mess, what about the 18% we encountered? How are we going to call him? Super mess! "Said the former secretary of propaganda NDC.
He canceled Ofori-Atta and described the government's celebration of Ghana's exit from the IMF as a "feint".
Fifi Kwetey is of the unconventional view that submitting to an IMF program is not a sign of a mismanaged economy.
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