IMF Deal: Ken Ofori-Atta has proven his critics wrong - Mireku Duker

Deputy Minister for Lands and Natural Resources, George Mireku Duker says the Finance Minister, Ken Ofori-Atta deserves praises following Ghana's successful deal with the International Monetary Fund (IMF) for a 3 billion dollar bailout.

The Finance Minister has recently come under intense heat over his performance with Members of Parliament of his political party, the New Patriotic Party and the Minority in Parliament calling for his resignation or dismissal.

Over 90 MPs petitioned the President of the Republic, Nana Addo Dankwa Akufo-Addo, to remove him but the President pleaded for him to complete the IMF deal.

The IMF staff and the Ghanaian authorities met on December 12, 2022 and reached a staff-level agreement on economic policies and reforms to be supported by a new three-year arrangement under the Extended Credit Facility (ECF) of about US$3 billion.

The IMF team led by Mr. Stéphane Roudet, Mission Chief for Ghana, visited Accra Thursday, December 1 to Tuesday, December 13, to discuss with the Ghanaian authorities on the IMF support.

"I am pleased to announce that the IMF team reached staff-level agreement with the Ghanaian authorities on a three-year program supported by an arrangement under the Extended Credit Facility (ECF) in the amount of SDR 2.242 billion or about US$3 billion.

"The economic program aims to restore macroeconomic stability and debt sustainability while laying the foundation for stronger and more inclusive growth. The staff-level agreement is subject to IMF Management and Executive Board approval and receipt of the necessary financing assurances by Ghana’s partners and creditors", Mr. Roudet issued a statement following the meeting.

George Mireku Duker has asked the nation to thank Ken Ofori-Atta for concluding the agreement despite rumors that the IMF had no confidence in him.

"You cannot applaud the government without mentioning Ken Ofori-Atta," he stressed.

To him, the work by the Finance Ministry headed by Mr. Ofori-Atta is remarkable and somehow has proven critics of the Finance Minister wrong.

"Before they reached the staff agreement, there were rumors that the IMF doesn't have confidence in our Finance Minister and all that but to reach an agreement of about 3 billion is not an easy task. If indeed that mistrust existed, we wouldn't have reached this staff agreement," he stated while speaking on Peace FM's "Kokrokoo" show Thursday morning.