IMF bailout: Akufo-Addo still has confidence in Ken Ofori-Atta – Oppong Nkrumah

It appears that calls for Finance Minister Ken Ofori-Atta’s head over Ghana’s current economic misfortunes may have come to naught.

Government spokesperson, Kojo Oppong Nkrumah says justifications so far for Ken Ofori-Atta to step down are neither here nor there.

Many critics including former President John Mahama have called for him to be sacked after running the fiscal space into a crisis.

This comes after President Akufo-Addo called for engagement to begin with the International Monetary Fund (IMF) to assist save the country from being plunged into any more difficulties.

Rising inflation, increasing fuel prices, the rising cost of living and the dwindling value of the local currency on the forex market are among the few of the hardships endured by the populace as a result of the downturn.

While civil society organisations called on government to consider the IMF options earlier in the year, Finance Minister was emphatic that it was not necessary while he expressed optimism about the situation.

Following the government’s U-turn on Friday, many have begun to question the Minister’s principles on the matter and his ability to run the public purse in times of crisis.

But Information Minister, Kojo Oppong Nkrumah held brief for him on Sunday.

He told Emefa Apawu on The Probe that the U-Turn does not make him fall short of the confidence reposed in him by President Akufo-Addo to run the country’s finances.

“If you look at the word that our finance minister has led us to do in the first part before these pandemics hit us, it will not support that argument that because he was initially of the view that we can do this domestically. He should be fired. I don’t think so,” he said.

Mr Nkrumah insists that though the Minister made his position on IMF bailout clear, he does not work in a vacuum and that the collective decision of the President may override his conviction.

Therefore, the opposing arguments for him to be axed are not enough basis to warrant such a decision, according to him.

On the back of this, he insists that the Mr Ofori-Atta still has the President’s support.