President Nana Addo Dankwa Akufo-Addo has announced his intention to seek additional borrowing from the international market in order to finance various infrastructural projects, subsequent to the successful conclusion of Ghana’s $3 billion agreement with the International Monetary Fund.
During his address at the Qatar-Africa Economic Forum held in Doha, President Akufo-Addo expressed that while his administration is not currently in a hurry to approach the international market for further loans, it is prudent to capitalize on the present market conditions and generate potential savings.
“We have positioned ourselves to be able to go back into the International market which had been a source of funding for us during the first three or four years of our government,” he stated.
“There is no rush but obviously why not take advantage of global savings, it makes a lot of sense to me. We will try as much as possible to maintain the discipline which is required and the most important requisite for a successful programme,” he added.
In a related development, approximately 80 MPs are demanding that the Finance Minister should step down in light of the successful negotiation and acquisition of the International Monetary Fund (IMF) bailout.
Among the MPs advocating for Ofori-Atta’s resignation is Eugene Boakye Antwi, MP for Subin who insists that President Akufo-Addo must fulfill his promise to replace Ken Ofori-Atta
In 2022, Andy Appiah Kubi, the Member of Parliament for Asante-Akim-North, joined forces with more than 50 New Patriotic Party (NPP) MPs to demand the dismissal of the Finance Minister due to the country’s economic challenges. They even went as far as threatening to boycott the presentation of the 2023 budget.