Steve Hanke, an American economist and professor of applied economics at the Johns Hopkins University, has described plans by President-elect John Dramani Mahama to renegotiate the deal between Ghana and the International Monetary Fund (IMF) as a mark of incompetence.
Following his victory in the 2024 general elections, Mr Mahama pledged to review Ghana's existing agreements with development partners to align with the country's current needs and aspirations.
Speaking during a courtesy call by the United Nations Resident Coordinator, Charles Abani, Mr Mahama emphasised the importance of creating partnerships that reflected the realities of today and the vision of his incoming government. "This adjustment is crucial and will help put the new government that would be inaugurated next year on the same springboard with our development partners to begin the rebuilding of the economy and the country," Mr Mahama stated.
He added "Looking at the existing programmes we need to tweak them to meet the realities of today.