Former President John Dramani Mahama says the government should responsibly utilise the $600 million offered by the International Monetary Fund (IMF) under the bailout programme.
The $600 million is the second tranche released to Ghana, bringing the total disbursement under the bailout programme to $1.2 billion.
On Tuesday, [January 23, 2023], the Bank of Ghana (BOG) acknowledged receipt of the $600 million from the IMF, which is meant for budget support and stabilization of the Ghana cedi.
“The National Democratic Congress (NDC) is eager and ready to address Ghana’s economic challenges and provide substantial relief to Ghanaians upon assumption of office in January 2025. Before that, I again urge the outgoing NPP government to be cautious, responsible and judicious in utilising the IMF $600 million and other funds that may be made available to Ghana from the World Bank and other development partners,” Mr Mahama said in a post on social media.
He added that under normal circumstances, the release of $600 million by the IMF to the government of Ghana should provide relief to the already overburdened and suffering Ghanaian.
However, the opposition National Democratic Congress (NDC) flag bearer said it was evident that Ghanaians will continue to suffer as long as the New Patriotic Party (NPP) remained in office.
“Implementing VAT on electricity consumption will increase tariffs by almost 21% and exacerbate the hardship on Ghanaians. This will affect the prices of goods, services, and transport fares,” he cited as example to buttress his lost hope in the NPP government.
“I agree with organised labour that the government must reverse its decision to start collecting VAT on electricity consumption,” Mr Mahama added.
Former President John Dramani Mahama encouraged the NDC minority in parliament to ensure strict oversight on both the government and the Bank of Ghana to stifle further aggravation of the country’s already dire economic situation.
He further pledged to continue engaging ordinary citizens about his goals to rebuild the national economy and provide much needed jobs.
“On my part, I will, from time to time, continue to engage the Ghanaian public about my vision to build the Ghana we want and how we will work together to create well-paying jobs through my 24-hour economy policy and other pragmatic initiatives,” Mr Mahama said.