Andy Appiah-Kubi, Member of Parliament for Asante Akim-North is of the view that Minister of Finance, Ken Ofori-Atta should have resigned on July 1, when the government ordered talks with the International Monetary Fund, IMF, amid an economic downturn.
Of the two major reasons the MP who is the leader of a group of 98 New Patriotic Party MPs seeking the immediate resignation of the Minister; cited Ofori-Atta’s dogged anti-IMF stance and the lack of credibility to lead the IMF talks due to his public pronouncements.
“Indeed, for me, I would have thought that the very day president said we were going to the IMF, that should have been the day he would have resigned…because he had promised that we will never have to get there.”
He said the resignation would also have signalled that the minister was being honest to himself and Ghanaians, “…because where is your credibility in going for the programme and leading it? You had spoken against it and you said it to Ghanaians and the whole world and the IMF heard you.
“What would the IMF think of you and of our whole programme? So, you should have left the scene for someone else to carry the mantle,” he said in an interview on Joy FM, November 21, 2022.
Ofori-Atta is currently the subject of a censure vote brought against him by the Minority Caucus in addition to the 98 NPP lawmakers also demanding his immediate sack.
An eight-member ad hoc committee that probed the seven grounds for censure struck out two of the grounds and is set to present its report to the plenary today.
An economy in distress
The economy is facing major headwinds that have been characterized by galloping inflation, consistent depreciation of the cedi and general high cost of living and of doing business.
The government is hoping to reach a deal with the International Monetary Fund, IMF, for an economic support programme aimed at shoring up the economy and easing the burden on ordinary Ghanaians.
President Akufo-Addo and his government have come under heavy scrutiny for failing to address the current economic challenges in the country.
The prices of goods and services have been continuously rising all year round, with inflation currently at over 40 per cent.
The Ghana cedi has been ranked the worst currency in the world among 148 currencies tracked by Bloomberg, overtaking Sri Lanka’s rupee, having depreciated by nearly 50 per cent so far in 2022.