I will adjust IMF agreement – Ex-Prez Mahama 

Former President John Dramani Mahama, the flagbearer of the National Democratic Congress (NDC), has pledged to adjust Ghana’s agreement with the International Monetary Fund (IMF) to reduce the impact of its conditionalities on the populace.

He assured that his government would not cancel the programme with the IMF.

The ex-President made this pledge during a maiden media encounter ahead of the 2024 General Election.

He emphasized the importance of mitigating the adverse effects of the IMF conditions while maintaining the programme to ensure economic stability and progress for Ghana.

As ex-President Mahama asserted that his extensive experience has equipped him to implement strategic policies aimed at resetting Ghana’s economy within a four-year term if elected as President.

Acknowledging that four years may not be sufficient to fully transform the country, he emphasized that his government would prioritize economic stability and the strengthening of the local currency to alleviate the economic hardships faced by Ghanaians.

As ex-President Mahama presents his comprehensive plan to stabilize and rejuvenate Ghana’s economy, he seeks to convince voters that his leadership will bring about the necessary changes to improve the nation’s economic prospects and enhance the quality of life for all Ghanaians.

He outlined his vision for reducing dependency on imports through increased local production.

This approach, he argued, would ease the pressure on the local currency.

He proposed a 24-hour economy focused on producing goods locally to meet domestic demand and capitalize on the African Continental Free Trade Area Agreement for exports to other African nations.

“Companies that will participate in the 24-hour economy will receive some tax incentives. We have to boost our local production and create jobs for our young people.

“The Government has some obligations to make this work, and we will do that,” Ex-President Mahama stated.

Addressing the nation’s economic challenges, Ex-President Mahama promised that his administration would prioritize prudent management of state resources and fiscal discipline.

He proposed the establishment of a special committee to audit all government procurement exceeding five million dollars. Additionally, his government would allocate annual funds to complete abandoned projects before investing in new ones.

He also highlighted revamping the cocoa sector to increase production and boost foreign exchange earnings was also as a key policy initiative.

Furthermore, Ex-President Mahama pledged to abolish certain taxes he described as burdensome, including the COVID-19 Levy and E-Levy, and to explore other measures to increase revenue.

“We will take the nuisance taxes out, streamline the taxes, as well as expand the tax net,” he said, adding that his administration would also rationalize port levies.

Emphasizing the importance of fiscal discipline, Ex-President Mahama vowed to address the issue of exchange rate fluctuations, which have significantly affected businesses and the cost of living in Ghana.

“We would instil fiscal discipline because eventually, the main driver of the economy is fiscal discipline and fiscal consolidation. And so if you only want to ramp up revenues, but you’re not willing to cut expenditures, then you have a situation where your budget deficit is out of kilter,” he explained.

Lastly, Ex-President Mahama stated unequivocally that his administration would not tolerate the acquisition of state assets by government officials, ensuring transparency and accountability in governance.