Ofori-Atta must be supported to fully implement IMF programme – Analysts

Some financial analysts want the Minister of Finance, Ken Ofori Atta, to ensure that Ghana derives maximum benefits from the International Monetary Fund programme.

According to them, he must make sure that conditionality does not outweigh the success and benefits expected to be attained.

Some people have expressed sentiments about the programme, especially the decision by the IMF not to release the $3 billion in bulk for the full implementation for three years.

Instead, the IMF is releasing the funds in tranches and further supervising and guiding the government in revising policies and programmes as part of the conditions.

The analysts who decided to remain anonymous said the Finance Minister must ensure that his ministry, continues to educate the people of Ghana on the implementation process, in order not to create doubts about the implementation process.

Again, the Majority and Minority caucuses in Parliament as well as the Speaker of Parliament, Alban Bagbin must also support Mr. Ofori-Atta to successfully implement the programme and not frustrate him or his ministry.

“Any decision to change the Finance Minister in the IMF programme is likely to disrupt or impede the implementation process and create mistrust between the parties”, one of them noted.

The decision by President Akufo-Addo, to assign the Finance Minister to lead a government delegation to negotiate the IMF deal helped Ghana to secure a record staff-level agreement.

Mr Ofori-Atta was touted as one of the best finance ministers in the world who was able to manage the country’s economy during the Covid-19 pandemic in 2020.