‘Is an economy under IMF tutelage a strong economy?’ – Akufo-Addo quizzes Mahama

President Nana Addo Dankwa Akufo-Addo has questioned the basis for former President John Dramani Mahama's continuous comment that he left behind a “strong economy” when he was exiting office on January 7, 2017.

Speaking on Metro TV’s Good Evening Ghana, the President indicated that the erstwhile Mahama administration ended with a GDP growth of 3.4% with a fiscal deficit of 9.6%.

Akufo-Addo said, “Within two years of being in office [2012-2015], the Mahama administration run to [the] World Bank for policy credibility for better tutelage in the management of its public financing…especially from somebody who is today saying that the IMF economy he left behind, the economy in the tutelage of the IMF was a ‘strong economy’…”

He further quizzed: “An economy under the IMF tutelage is a strong economy? An economy that was running a deficit of 9.6% is a strong economy? An economy growing at 3.4% is a strong economy?”

Akufo-Addo indicated that all the indices and economic management under John Dramani Mahama was on a downward decline.

He stated that the economic data under his administration are still fresh in the memory of Ghanaians because Ghanaians do not have short memories anymore.

President Akufo-Addo further said the implementation of the Planting for Food and Jobs initiative was one of the factors that led to significant economic growth.

“I think with the expansion of the economy, we have all seen it. Until covid the economy was growing at an average rate of 7%,” he said.

He added: “I think agric is one of the major successes of the last four years, with the programme of the Planting for Food and Jobs. Ghana was an importer of food which we saw under Mahama. Today, it is a net exporter of food.”