Home Politics Don’t Blame Akufo Addo For Ghana’s Bad Economy- IMF Leader Shames NDC

Don’t Blame Akufo Addo For Ghana’s Bad Economy- IMF Leader Shames NDC

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The leader of IMF audit team sent to Ghana, Mr Carlo Sdralevich after their visit on Wednesday, 13th July 2022 concluded that Ghana’ s current economic crisis is not directly because of mismanagement by His Excellency Nana Akufo Addo as the National Democratic Congress is claiming.

According to the IMF leader, Ghana now finds itself back to the IMF because of the negative impacts of COVID 19 pandemic. ” Ghana is facing a challenging economic and social situation amid an increasingly difficult global environment. The fiscal and debt situation has severely worsened following the COVID- 19 pandemic.

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At the same time, investors’ concerns have triggered credit rating downgrades, capital outflows, loss of external market access, and rising domestic borrowing costs” As if COVID 19 was not enough, the Russian Ukraine has also dealt the Ghanaian a big blow and does not make any sense to blame government. ” War in Ukraine is hitting Ghana at a time when the country is still recovering from the Covid- 19 pandemic shock and with limited room for maneuver.

These adverse developments have contributed to slowing economic growth, accumulation of unpaid bills, a large exchange rate depreciation, and a surge in inflation” Mr Carlo said. Regardless of the above programs, he assured that IMF will keep a close eye on the economy of Ghana from now onwards and make sure good policies are designed to improve upon the economy.

” IMF staff will continue to monitor the economic and social situation closely and engage in the coming weeks with the authorities on the formulation of their Enhance Domestic Program”.

The team have completed their audit and will leave Ghana, however they have promised to do all in their power to financial assist Ghana recover from the impact of COVID-19 and Russia war.

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Frank Oteng known professionally as Ghlagatin is a Ghanaian celebrity blogger, freelance journalist, and reporter.He is the founder of Ghlagatin.net, an entertainment website. He graduated from Accra Technical University, ATU with a National High Diploma in Interior Design.

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