The Minority caucus, has responded to Finance Minister, Ken Ofori-Atta’s allegations against the previous National Democratic Congress (NDC) administration.
Mr Ofori-Atta had accused the NDC of derailing an International Monetary Fund (IMF) programme.
In an article, Mr Ofori-Atta stated that upon assuming power in 2017, the New Patriotic Party (NPP) government inherited what he described as a ‘derailed IMF programme’ and a severely compromised financial industry from the NDC.
This article came in the midst of ongoing calls by the Minority for the resignation of the Governor of the Bank of Ghana (BoG), citing mismanagement of the Central Bank.
Moreover, Ofori-Atta used his article to rally support for the construction of a new, suitable office for the BoG.
“The Minister of Finance should not say anywhere again that the NDC administration left behind a derailed IMF programme. Clearly, at the time we were leaving office, there was no monetary finance. For the first time in the history of Ghana, the government did not take money from the central bank even though the law allowed the then administration to take 5% of the previous year’s revenue from the central bank.”
“The people of Ghana would recall that because the Mahama administration left behind a robust economy, the Akufo-Addo/Bawumia government within the first three months of its assumption of office was able to borrow US$2.25 billion from Franklin Templeton”.
In response, Minority Leader Ato Forson released a statement countering Ofori-Atta’s claims and asserting that the Mahama administration had left a robust economy. He emphasized that during their tenure, they did not resort to monetary finance and had a strong fiscal position. Forson highlighted their ability to borrow a substantial amount from Franklin Templeton shortly after handing over to the NPP government.
Forson passionately argued that the NDC’s performance in governance was superior to the current administration. He expressed confidence in the NDC’s potential to govern effectively and hinted at the upcoming elections in 2025.
He concluded by asserting that history will remember Ofori-Atta for steering Ghana towards the IMF, employing strong imagery of an ambulance.
Mr Forson reiterated the call for the resignation of the BoG Governor and implied that both Ofori-Atta and Governor Addison would be held accountable for what the Minority perceives as economic mismanagement.
“We did better than they are doing and the NDC will always do better when the good people of Ghana give John Mahama and our party the opportunity to govern from January 2025. Finally, the Minority in Parliament wishes to remind Governor Addison and Mr. Ken Ofori-Atta that the day of reckoning is very near and they will be held accountable for their collective mess,” he said.
“History will remember this Minister of Finance and the government’s Economic Mismanagement Team headed by Alhaji Mahamudu Bawumia for taking Ghana to the IMF in an ambulance”.