It is "unfortunate" that the Akufo-Addo government, led by the head of the Economic Management Team, "is today trying to tell Ghanaians that there is something positive from the International Monetary Fund (IMF)" which they demonised as a sign of incompetence once upon a time, Bolgatanga Central MP Isaac Adongo has observed.

At a joint press briefing with the IMF on Monday, 1 July 2024, Finance Minister Mohammed Amin Adam said: “I am confident that our economy is certainly on the path of sustained recovery, and we will continue to work tirelessly to ensure sustainable growth and prosperity for all Ghanaians."

Dr Adam said three different agreements reached with Ghana's partners, including a debt restructuring deal with both the Official Creditor Committee (OCC) and Eurobond holders, as well as the IMF Executive Board’s approval of the second review of Ghana’s programme implementation, signal hope of better days ahead.

The approval of the second review by the IMF Executive Board will result in a disbursement of $360 million to Ghana, bringing the total disbursements under the $3-billion programme to $1.6 billion.

Dr Adam promised: “Despite the fact that 2024 is an election year, we are committed to enhancing domestic revenue mobilisation and tightening expenditure commitment controls to avoid policy slippages.”

Mr Adongo, however, pointed out the irony of the government's IMF-induced hope for the economy when the same administration branded the Mahama administration as incompetent for resorting to the IMF for help at a point in time. 

"The IMF they said was a sign of incompetence; that they would never go there; that they are a proud people; today they are telling us that we should have hope because of IMF. Can’t you see the irony of it," Mr Adongo noted.