'Instead of recognising mismanagement, he is blaming creditors for Ghana’s debt burden' – Hanke criticises Ofori-Atta

Professor Steve Hanke

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Renowned US Professor of Economics, Steve Hanke has chastised Finance Minister Ken Ofori-Atta for mismanaging the Ghanaian economy.

Professor Hanke who is a hard critic of Ghanaian authorities in a tweet was surprised about Mr Ofori-Atta’s position that he’s disappointed foreign lenders have been slow to act in supporting Ghana’s quest to get a programme from the International Monetary Fund.

“As 33 African countries suffer from record debt burden, Ghana’s Finance Minister, Ken Ofori-Atta is disappointed that foreign lenders had been ‘slow to act’”.

“Instead of recognising mismanagement, he is blaming creditors for Ghana’s debt burden”, he concluded.

Ghana’s last hurdle to securing a Fund programme is getting approval from the Paris Club and other creditors to restructure its debt.

Though talks are said to have progressed with the creditors, it is unclear when the green light will be given to enable Ghana to secure the Fund programme.

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Ken Ofori-Atta

Professor Steve Hanke