According to Seth Terkper, a former finance minister, no government has ever received GH1 billion from the IMF.
He claims that the maximum amount the nation has ever received from the Fund was GH3 billion when it was designated as a HIPC.
On October 25, 2022, he stated at the 11th Ghana Economic Forum, “the most we have had by way of intervention and that was HIPC was 3 billion. No government has ever received 1 billion to make a change. The amount we spent, which occurred after 2017 and under the current administration, was the highest at GH950 million.
He added that it’s important to reevaluate the idea that Ghana was doing well until 2020.
Meanwhile, Dr. John Kwakye, the director of the Institute of Economic Affairs, claimed that Ghana’s income targets were not high enough to provide the anticipated revenues required for growth.
Every country needs sound policies and the capacity to utilize its resources to thrive, but in Ghana’s case, neither has been present.