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Ofori Atta Must Resign, His Performance Is Abysmal And He Spoke Against IMF - Ricketts-Hagan

Kweku Ricketts-Hagan, a member of parliament representing Cape Coast South, has joined calls for the dismissal of Finance Minister Ken Ofori-Atta. Although the minister has an exceptional background in business, according to him, his management of the nation's economy has been disastrous.

Speaking on The Big Issue in response to reports that Ghana has begun talks with the IMF for a rescue program, Ricketts-Hagan claimed the Finance Minister had not shown economic discipline to prevent the current predicament the nation is in. He declared that it will be most appropriate for him to resign as minister or face removal.

Ken Ofori-Atta, I believe, is a beleaguered Finance Minister whose work has been appalling. He has succeeded for himself as a private businessman, but he has failed in the public sector. His resignation is the finest course of action. He has no faith in the IMF. He has spoken out frequently in opposition to the IMF.

The onus is on him, and he has to leave, according to Kweku Ricketts-Hagan. On Friday, July 1, 2022, the Ministry of Information declared that President Akufo-Addo had given the go-ahead for Ghana to start negotiations with the IMF for a bailout. Ken Ofori-Atta will be in charge of the talks with the IMF in the coming days, according to the Information Ministry.

The clamor for Ofori-resignation Atta's have increased after Ghana decided to apply for an IMF bailout. Last week, former president John Dramani Mahama urged President Nana Addo Dankwa Akufo-Addo to change his ministers in order to maximize their productivity, and in particular, to fire the Finance Minister.

Additionally, Mr. Ricketts-Hagan felt that the minister should not be in charge of talks with the IMF. His issue is that he has struggled to comprehend how the public sector actually operates. He approaches it from the perspective of the Eurobond and capital markets, but you also need to consider the public finance angle.

When your finances are low, you can contact your shareholders in the private sector, but in the public sector, it is not always when you contact a tax payer that you receive the money, according to Mr. Ricketts-Hagan. He added that the structural problems uncovered by Covid and the Russia-Ukraine war are the basis for the Ghanaian economy's current problems, and as a result, both long-term solutions and short-term fixes must be developed.

"Our economy has a structural issue that needs a long-term solution, but Covid and the Russia-Ukraine war have revealed certain urgent issues that have only served to highlight the structural issue. Unfortunately, we refer to the IMF as if they are the problem, he said.


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Cape Coast South Ghana Ken Ofori-Atta Kweku Ricketts-Hagan Ricketts-Hagan


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