Ofori Attas Exit from Finance Ministry Wont Affect IMF Deal Akufo Addo Tells Parliament

President Akufo-Addo has assured that the reshuffle of Finance Minister, Ken Ofori-Atta will not interrupt Ghana's ongoing bailout package implementation with the International Monetary Fund (IMF).

Speaking during his penultimate State of the Nation Address in Parliament on Tuesday, February 27, President Akufo-Addo reaffirmed the government's commitment to upholding the IMF agreement terms and conditions.

He reassured the public that Ghana's deal with the IMF is secure. 

President Akufo-Addo said, “Mr Speaker, it is significant to underline that the recent alter in the leadership of the Finance Ministry will not affect the Government’s commitment to implementing the terms agreed with the IMF to ensure that we restore the economy to healthy growth as soon as possible.”

President Akufo-Addo appointed Dr. Mohammed Amin Adam as the new Finance Minister on Wednesday, February 14, following Ken Ofori-Atta's reshuffle after his seven-year tenure as part of a cabinet reshuffle.

Despite facing fierce obstacles and calls for his resignation from some members of Parliament including Members of his own part, the New Patriotic Party (NPP), Ofori-Atta remained Ghana's longest-serving Finance Minister.

Calls for his resignation stemmed from economic difficulties, with around 80 NPP MPs demanding his immediate resignation in October 2022 and similar requests made by the NDC parliamentary caucus in February 2023.

However, President Akufo-Addo dismissed the calls, urging Parliament to wait until the discussions with the IMF was officially concluded.

After Ken Ofori-Atta's resignation, many Ghanaians thought the government was going to forgo the terms agreed upon with the Monetary fund.

The president assured Parliament that all arrangements with the IMF will be maintained. Kobina Darlington/