It is now clear that Ghana is seriously in debt and the living conditions of the citizens are getting worse. The government has blamed the effects of Covid-19 as well as the Ukraine-Russian war for the hardships that Ghanaians are facing. They have resisted calls that the economic plight of the country is as a result of economic mismanagement.
Well, in a letter signed by Kojo Oppong Nkrumah, the government has decided to seek help from the International Monetary Fund. Many economic experts had already made this call former president John Mahama, but the government chose to look on and claimed all was well. Interestingly, the letter from the minister mentioned that initial talks have begun between Akufo-Addo and the IMF Director.
It can be recalled that when the NDC headed by John Mahama wanted to go to the IMF, opposition leader, Akufo-Addo resisted those calls. He and his party members lashed Mahama for being incompetent for the job. In a post made in 2015 Akufo-Addo wondered why an oil rich country like Ghana will go to the IMF for support. Check out the tweet
Interestingly, Ghana is now 12 years into oil production but can we say the country is rich? What changed Akufo-Addo’s decision to finally go to the IMF? Was the 2015 situation same as 2022? Is this situation due to incompetence? Can Ghana survive the terms from the IMF?
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