IMF Bail Out: Dr Amoako Baah Claims Market Women Can Manage Economy Better Than Ken Ofori-Attah

IMF Bail Out: Dr Amoako Baah Claims Market Women Can Manage Economy Better Than Ken Ofori-Attah

  • An academic affiliated with the governing New Patriotic Party (NPP) has taken a swipe at the competence of Finance Minister Ken Ofori-Atta
  • Dr Richard Amoako Baah said the finance minister has only pilled up public debt through borrowing, something anyone can do
  • The founding member of the governing NPP said even market women would manage Ghana's economy better than Mr Ofori-Atta

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A leading member of the governing New Patriotic Party (NPP), Dr Richard Amoako Baah, has questioned the competence of Finance Minister Ken Ofori-Atta.

Amoko Baah and Ofori-Atta
L-R: Dr Richard Amoko Baah and Ken Ofori-Atta. Source: UGC/@erickholmes30, Getty Images
Source: UGC

According to the political scientist, Ghanaian market women who do not have training in economics can manage the country’s finances better than the minister.

“[Mr Ofori-Atta] doesn’t do buy and sell! He does borrow and spend and keeps borrowing. Who cannot do this?” he asked.

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Akufo-Addo is a dishonest man; he's deliberately silent about issues – Dr Amoako Baah

A report by Kasapa News said the plain-speaking academic made the comments on Tuesday, July 5, 2022, on a current affairs programme.

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Dr Amoako Baah’s comments follow an ongoing process by Ghana to secure financial assistance from the International Monetary Fund (IMF) to stabilise the economy.

Ghana begins engagement with IMF for bail out reported in a previous story that the government announced this week that the Finance Minister Ken Ofori-Atta will begin formal engagements with the IMF for an economic programme.

The global economic disruption triggered by the Russia-Ukraine war has worsened Ghana's macroeconomy. High public debt, rising inflation and depleting foreign reserves have destabilised the balance of payment. Economic hardship in Ghana has remained a topical national issue since the start of 2022.

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Oppong Nkrumah 'silences' critics of IMF bailout U-turn with 3 arguments sighted a statement from the Information Ministry dated July 1, 2022 that discloses that the IMF boss, Kristalina Georgieva and President Akufo-Addo have already had a conversation about a possible bail-out programme.

Former President John Mahama advises Akufo-Addo to fire Ofori-Atta

Earlier, former President John Mahama also took a swipe at Mr Ofori-Atta when he recommended his sacking as part of three proposals on how President Nana Akufo-Addo can solve Ghana's current economic problems.

Speaking at the launch of a think tank, Think Progress Ghana, the theme, "Ghana's debt burden, reflections and solutions," Mahama said Akufo-Addo needs to move fast to save the economy.

At the event on Thursday, June 30, 2022, the former president said the first significant decision would be for Akufo-Addo to fire Finance Minister Ken Ofori-Atta.

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