A member of the ruling New Patriotic Party Communication team, Kofi Tonto has defended the Government’s management of the economy.
On Saturday, during an interview on Citi TV’s The Big Issue in Accra, Mr. Kofi Tonto said the positive signs of recovery is as a result of Government’s deliberate efforts to cushion Ghanaians.
The government spokesperson cited the 30% discretionary cuts in the mid-year budget as part of Government’s effort to stabilize the economy.
Kofi Tonto added that the NDC and Ghanaians kicked against E-levy and other revenue measures the NPP government brought up to help boost the economy.
Government spokesperson, Kofi Tonto has defended the Government's management of the economy.
According to him the positive signs of recovery is as a result of Government's deliberate efforts to cushion Ghanaians.
He cited the 30% discretionary cuts in the mid-year budget as… pic.twitter.com/sg0tX9yxoH
— CITI FM 97.3 (@Citi973) October 7, 2023
Relatedly, Franklin Cudjoe, the president of the policy think tank IMANI Africa, has attributed the state of the economy to the government.
READ ALSO: Ghana to receive IMF second tranche $600m next month
“About 70% of happenings right now are solely attributable to the government’s mismanagement of the economy. That is a settled argument. No political actor can refute that.”
“70% of the chaotic management of the economy is attributable solely to mismanagement. Let’s just accept it,” he said during an interview on Citi TV.
The first review of Ghana’s three-year program under the Extended Credit Facility has been completed with an agreement on economic policies and reforms between the International Monetary Fund (IMF) and the country’s staff.
The agreement is contingent on receiving the required financing assurances and approval from the IMF Executive Board.
The strong policy and reform commitment of Ghana under the program, which is bearing fruit and resulting in signs of economic stabilization, was praised by the IMF.
The International Monetary Fund (IMF) stated in a report that growth in 2023 has proven to be more resilient than initially anticipated, inflation has decreased, the fiscal and external positions have improved, and the exchange rate has stabilized.
Ghana will have access to about $600 million in financing once the review has received official approval from IMF Management and the IMF Executive Board.
