Here we go once more, extra incompetence – Steve Hanke on Mahama’s plan to renegotiate IMF deal
Steve Hanke, an American economist and professor of utilized economics on the Johns Hopkins University, has described plans by President-elect John Dramani Mahama to renegotiate the deal between Ghana and the International Monetary Fund (IMF) as a mark of incompetence.
Following his victory within the 2024 common elections, Mr Mahama pledged to overview Ghana’s present agreements with improvement companions to align with the nation’s present wants and aspirations.
Speaking throughout a courtesy name by the United Nations Resident Coordinator, Charles Abani, Mr Mahama emphasised the significance of making partnerships that mirrored the realities of as we speak and the imaginative and prescient of his incoming authorities.
“This adjustment is crucial and will help put the new government that would be inaugurated next year on the same springboard with our development partners to begin the rebuilding of the economy and the country,” Mr Mahama said.
He added “Looking on the present programmes we have to tweak them to fulfill the realities of as we speak. I imagine we now have had discussions with the World Bank and the IMF already and we glance to an early engagement in order that we will proceed to be on the wavelength.
“Of course within the marketing campaign, a number of guarantees have been made, we have to have a look at what the truth is when it comes to sitting collectively and seeing what the way in which ahead is.
“Of course one of our main concerns is the issue of the debt repayments, we need to see how we can smooth them so that we don’t default again which will be more catastrophic than that currently defaulting.”
Reacting to this on his X web page, Prof Steve Hanke mentioned “GhanaWatch🇬🇭: President-elect Mahama desires to renegotiate Ghana’s IMF deal for ‘radical changes’ to clean mortgage funds.
“Here we go again. More Ghanaian incompetence.”
#GhanaWatch🇬🇭: President-elect Mahama desires to renegotiate Ghana’s IMF deal for “RADICAL CHANGES” to clean mortgage funds.
HERE WE GO AGAIN.
More Ghanaian INCOMPETENCE. pic.twitter.com/9Dx3UQudyV
— Steve Hanke (@steve_hanke) December 26, 2024
