Member of Parliament for Asunafo South, Eric Opoku sharply criticized the current administration’s financial management, pointing to a record-high IMF aid recommendation as evidence of Ghana’s severe economic challenges under President Akufo-Addo.
He highlighted that from 1966 to 2016, including John Dramani Mahama’s tenure, Ghana received a total of $2.5 billion in IMF assistance, noting that never before had the country required as much as $1.5 billion until now.
Opoku linked Ghana’s financial difficulties to its participation in a debt exchange program, which he argued signals deep financial distress globally.
He warned that without effective measures, Ghana faces significant economic jeopardy.
“But for President Akufo-Addo, when we went to the IMF, upon looking at our financial statement, they said we needed $3 billion. Ghana’s finances are ill.” he said on Onua FM’s Yen Nsempa morniing show on July 1.
“Ghana is in so much debt. If we do not find a way out of this, we will be in so much trouble as a country,” Opoku warned.
He further stated “Before a country admits to a Debt Exchange Program, it means we have accepted that we are broke and there is no way of coming out of it. The mere fact that Ghana has admitted to this means we are telling the whole world that we are broke and helpless,” he said.
Proposing solutions, Opoku advocated for the NDC’s proposed 24-hour economy, suggesting extended working hours to boost productivity and job creation as crucial steps to stabilize Ghana’s economy.
“What policy can be introduced to help us come out of this debt and increase our revenue and jobs? That is the 24-hour economy, the Ghanaian Economy will never sleep, there will be continuous productivity” Opoku emphasized.