NDC’s Poor Governance Is The Reason Akufo-Addo is Going to IMF: Bawumia Adds Mahama To Covid And Ukraine War

• Vice President Mahamudu Bawumia has added John Mahama to the reasons Ghana is going to the IMF for the 18th time
• The vice president said apart from the Ukraine war and the Covid-19 pandemic, Akufo-Addo's government had to deal with two problems the former president Mahama left behind
• The first is the banking sector problems that needed a GH¢25 billion clean up and excess capacity payments to the tune of GH¢17 billion

Vice President Dr Mahamudu Bawumia has added former President John Mahama's administration to the list of reasons Nana Akufo-Addo is going to the IMF for a bail out.

Speaking in Accra on Thursday, July 14, 2022, the vice president said apart from the global shocks caused by the Ukraine war and the Covid pandemic, there were two internal factors that have compelled Ghana to go the IMF.

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He mentioned the banking sector crisis that he said started under Mr Mahama's administration and the huge excess capacity charges that he left for the Nana Akufo-Addo administration.

He also blamed the banking sector crisis on poor supervision by regulatory authorities under the previous John Mahama government.

"In addition to COVID-19, there were two major items of expenditure that are critical to understanding the evolution of the fiscal deficit and the debt stock: the Banking Sector Clean up (GH¢ 25 billion) and the Energy Sector Excess Capacity payments (GH¢ 17 billion).

"The excess capacity payments of GH¢17 billion relate to a legacy of take or pay contracts that saddled our economy with annual excess capacity charges of close to $1 billion. These were basically contracts to supply energy to Ghana way in excess of our requirements, but we were obligated to pay for the power whether we use it or not," he said.

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19 ministers enough to govern Ghana – Mensah-Bonsu stokes debate

He made the comments during the official launch of a collaboration between Accra Business School and South East Technological Institute Ireland.

Ghana can function with 19 ministers - Osei Kyei Mensah-Bonsu

Meanwhile, YEN.com.gh reported in a separate story that Majority Leader Osei Kyei Mensah-Bonsu has stoked a debate with a call on the Executive arm of government to cut its ministerial appointments to just 19.

Ghana under Nana Akufo-Addo currently has over 100 ministers and deputy ministers, mirroring previous governments.

However, speaking at a public lecture, Akufo-Addo’s Minister for Parliamentary Affairs said the 19 cabinet ministers that the president has are enough to manage the country’s affairs.

Source: YEN.com.gh