Ghana’s finance minister sacked amid economic crisis – Capital Radio Malawi
24 July, 2024

Ghana’s finance minister sacked amid economic crisis

Sacked -Ofori-Atta

Ghana’s President Nana Akufo-Addo has replaced Finance Minister Ken Ofori-Atta, as the West African country endures the worst economic crisis in a generation.

Ofori-Atta, an ex-banker, has been in office since 2017 and has faced criticism for Ghana’s financial crisis.

At the height of the crisis in 2022, inflation surpassed 50% and the government defaulted on loan payments.

It subsequently restructured its debt with creditors to qualify a bailout from the International Monetary Fund (IMF).

Mohammed Amin Adam, who previously served as deputy energy minister and minister of state in the finance ministry, was on Wednesday appointed as Mr Ofori-Atta’s replacement.

Adam is expected to oversee the ongoing $3bn IMF economic recovery program as well as debt restructuring negotiations with the country’s commercial creditors.

President Akufo-Addo replaced 12 other ministers in Wednesday’s cabinet reshuffle, which precedes Ghana’s December presidential elections.

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