Ghana MPs suspend demand for finance minister’s ouster until after IMF deal

PUBLISHED: Thu, 27 Oct 2022 09:55:44 GMT
Christian Akorlie
Reuters
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Ken Ofori-Atta, Ghana’s finance minister, pauses during a Bloomberg Television interview in London, U.K., on Wednesday, March 20, 2019. Ghana, which this week raised $3 billion through debt sales and was contemplating 100-year bonds, will work with the market to determine the tenure of its next issuance, Ofori-Atta said. Photographer: Simon Dawson/Bloomberg via Getty Images

ACCRA, Oct 27 (Reuters) – A coalition of Ghana’s ruling party members of parliament have called off demands that finance minister Ken Ofori-Atta be removed from office until a support package is negotiated with the International Monetary Fund (IMF).

The ruling New Patriotic Party (NPP) said in the statement on Wednesday that President Nana Akufo-Addo told them “their demands would be acted upon” following the upcoming 2023 budget reading and culmination of ongoing IMF support talks.

A majority of the NPP’s members of parliament on Tuesday asked the president to sack Ofori-Atta and his deputy in order to “restore hope in the financial sector”. They vowed not to take part in any government business and to boycott budget hearings until his dismissal.

Ghana is in the midst of an economic crisis, as inflation and currency depreciation spiral to record levels despite repeated and severe lending rate hikes.

Ofori-Atta, who is leading negotiations with the IMF after initially opposing a deal, has faced calls for his removal from both of the country’s two major political parties.

(Reporting by Christian Akorlie; Writing by Cooper Inveen; Editing by Bate Felix)

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