Renowned economist, Dr. Nii Moi Thompson has criticised the Akufo-Addo administration for its handling of COVID-19 funds, alleging mismanagement.

Dr. Thompson highlighted that the COVID-19 pandemic unexpectedly bolstered the government’s financial position, noting significant financial gains for Ghana during this period. 

He pointed out that the International Monetary Fund (IMF) provided Ghana with a $1 billion grant without conditions due to the pandemic.

Speaking to Channel One TV on Wednesday, June 19, Dr. Thompson revealed that in 2021, Ghana received an additional $1 billion from the IMF, which was notably absent from the Auditor General’s report on COVID-19 expenditures, suggesting a potential oversight.

Dr. Moi Thompson further disclosed that Ghana received a total of GHC27 billion in COVID-19-related funds. 

However, he criticised the government for utilising only 42% of this amount for direct COVID-19 expenses, leaving a significant portion unaccounted for.

“We turn to look at COVID-19 purely in economic terms, but it was a financial bonanza for the government. You may recall that they actually even said that they exceeded the revenue targets in 2020, despite what everyone else thinks. Even though, revenue went down in certain sectors… the ICT, the telcos and others, they boomed."

“But, as a result of COVID-19, the IMF also gave us a billion dollars in cash in 2020, pretty much, no conditions attached. The significance of that is that in 2015 when we went to the IMF, they pledged, I think, $940 million spread over three years," he said.