A former finance minister, Seth Terkper, has stated that no government has secured GH¢1 billion from the International Monetary Fund. According to him, the highest the country has received from the Fund is GH¢3 billion when the country was declared as HIPC. Speaking at the 11th Ghana Economic Forum on October 25, 2022, he said “the highest we have had by way of intervention and that was HIPC was 3 billion. No government ever got 1 billion to do a correction. The highest was GH¢950 million which we did and that came after 2017 to the current administration.” He also stated that the notion that Ghana was doing well before 2020 needs to be re-examined. Meanwhile, the Director of the Institute of Economic Affairs, Dr. John Kwakye, has stated that Ghana’s revenue targets have not been ambitious enough to rake in the expected revenue needed for development. According to him, every country thrives on good policies and the ability to take advantage of resources, but, in Ghana’s case, both have been defective. “As a country, we need both resources and policies to advance our development. For Ghana, we have lacked adequate resources, and our policies have also been defective in so many areas,” he said.
A former finance minister, Seth Terkper, has stated that no government has secured GH¢1 billion from the International Monetary Fund. According to him, the highest the country has received from the Fund is GH¢3 billion when the country was declared as HIPC. Speaking at the 11th Ghana Economic Forum on October 25, 2022, he said “the highest we have had by way of intervention and that was HIPC was 3 billion. No government ever got 1 billion to do a correction. The highest was GH¢950 million which we did and that came after 2017 to the current administration.” He also stated that the notion that Ghana was doing well before 2020 needs to be re-examined. Meanwhile, the Director of the Institute of Economic Affairs, Dr. John Kwakye, has stated that Ghana’s revenue targets have not been ambitious enough to rake in the expected revenue needed for development. According to him, every country thrives on good policies and the ability to take advantage of resources, but, in Ghana’s case, both have been defective. “As a country, we need both resources and policies to advance our development. For Ghana, we have lacked adequate resources, and our policies have also been defective in so many areas,” he said.
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