Former Sekondi Member of Parliament and former Minister for Tourism, Arts and Culture, Andrew Egyapa Mercer, has credited the administration of former President Nana Addo Dankwa Akufo-Addo with laying the foundation for Ghana’s successful completion of the International Monetary Fund (IMF) Extended Credit Facility programme.

In a Facebook post on Tuesday, July 28, Mr Mercer said while the current Finance Minister, Dr Cassiel Ato Forson, deserved recognition for guiding the final phase of the programme to completion, the groundwork for Ghana’s economic recovery was the result of difficult decisions taken by the previous administration.

He noted that when President Akufo-Addo assumed office in 2017, Ghana’s economy was confronted with significant challenges, including rising debt levels, fiscal pressures and slow economic growth.

According to Mr Mercer, reforms introduced by the Akufo-Addo administration helped restore economic growth, reduce inflation and rebuild investor confidence before the COVID-19 pandemic disrupted global economies.

He said the government’s decision during the pandemic to prioritise saving lives and supporting households and businesses came with significant economic consequences, including increased deficits and debt pressures.

Mr Mercer added that subsequent global shocks, including the Russia-Ukraine war and supply chain disruptions, further worsened the situation, pushing inflation to 54.1 per cent in 2022 and leading Ghana to seek a US$3 billion IMF programme.

He argued that although the IMF programme required difficult measures, including debt restructuring and fiscal consolidation, it helped prevent a deeper economic crisis.

“IMF programmes are not single events—they are cumulative processes built on years of policy decisions, many of them difficult and politically costly,” Mr Mercer wrote.

He acknowledged the current administration’s role in completing the IMF programme but insisted that the contributions and sacrifices made under the previous government should also be recognised.

Mr Mercer said Ghana’s recovery journey was the result of a series of policy decisions taken over time rather than the achievement of a single administration.

Police brutally assaulted me for no reason during demo – Techiman-Krobo Nursing student

Our former principal fed us three times daily – Techiman-Krobo nursing…