The International Monetary Fund (IMF) has defended its position on the cause of Ghana’s worsened economy.
Gerry Rice, the Director of the Communications of the Fund , has reiterated how badly Ghana’s economy has been hit by the Russia-Ukraine war as well as the Covid-19 pandemic.
The statement is a response to the criticism by the former President John Dramani Mhama who holds the view that, the dire economic position is as a result of bad management.
Mr. Gerry Rice re-emphasized that the country’s plight has been worsened by the Russia-Ukraine war as it had already injected a lot of fiscal power into the pandemic.
“I would say, as just to repeat, the war in Ukraine has triggered a global economic shock that’s hitting Ghana and, as I said, many other countries, and all at a time when, for many of these countries, their room for fiscal maneuver, if I could put it that way, is already extremely limited because they’ve used a lot of fiscal power already in the pandemic.”
“And we’re very cognizant of that. And that’s why we are, as I described at the beginning, stepping up to help countries where we can, and that includes Ghana.”
Mr. Gerry Rice further indicated that the IMF team will revisit the country in the coming weeks.
”I don’t have a date for you, but [it will be] in the coming weeks,” he added.
Ghana returned to the IMF for support after months of struggle with the economy and a cost of living crisis.
Former President John Dramani Mahama criticized the Managing Director of the International Monetary Fund, Kristalina Georgieva for being diplomatic with Ghana’s economic position.
“The incontrovertible fact is that, Ghana is in a mess due to the BAD POLICIES of this government, which have contributed massively to the dire state of affairs.
International diplomats must consider these facts and not just ignore them; lest they make wrong diagnosis and prescribe inappropriate remedies.”