According to a report by Reuters, Ghana’s president made a change in the cabinet by replacing the finance minister. This decision came after facing criticism for how the economic issues in the country were being handled. The announcement was made by the president’s office on Wednesday, amidst preparations for the upcoming presidential elections.
The ex-finance minister, Ken Ofori-Atta, had been in charge of debt restructuring operations as Ghana faced its worst economic crisis in over two decades. He took office in 2017 with the aim of creating jobs, fighting poverty, and boosting economic growth. However, Ghana’s economy has faced challenges in the past few years, including a rising cost of living and currency devaluation.
READ MORE:
Yakubu Issahaku assist earns National Bank a point in Egyptian premier league clash
Mahama challenges proposed rescheduling of general elections
Andre Ayew scores header for Le Havre in Coupe de France game against Strasbourg
Former President Mahama unveils ambitious plan to revitalize Ghanaian football
To help with the recovery, Ghana secured a $3 billion loan program from the International Monetary Fund (IMF) in May 2023. This loan is intended to address immediate policy and financial issues and potentially provide a way out of the economic crisis. Early debt restructuring agreements with foreign creditors are crucial for the effective implementation of this program.
