Isaac Adongo, the Deputy Ranking Member on the Finance Committee of Parliament, has charged that the IMF's evaluation did not accurately reflect Ghana's actual fiscal condition.

The COVID-19 pandemic and Russia's invasion of Ukraine were recently blamed by the Fund's managing director, Kristalina Georgieva, for the current economic circumstances in Ghana.

She argues that because these two issues have had a big impact on other economies, Ghana's economic difficulties cannot be attributed to the country's government's misguided policies.

However, Isaac Adongo's response to the crisis suggested that the Bretton Woods institution sent the wrong message when it blamed these two outside sources for the economic catastrophe.

“The IMF is managing the situation so that they do not create fear and panic that will further exacerbate the issue. It is very clear that, the Ghanaian economy was already suffering internal and external vulnerability before COVID-19 and Russia-Ukraine war," he said in an interview with Accra-based Citi FM.

The Bolgatanga Central lawmaker further accused the Akufo-Addo-Bawumia administration of colluding with the IMF to paint a false narrative of Ghana’s true economic situation.

“It is dishonesty for people who have profited from propaganda; people who have come to power on the back of the deception of the Ghanaian people that going to IMF defines incompetence, to now be turning around to say that we should not have that debate. Didn’t Dr. Bawumia describe John Mahama with unprintable words for taking Ghana to the IMF?.”

The NPP should hang its head in shame for putting us here, I want to say.

They want to now engage in double-talk by collaborating with the IMF through PR.

The IMF has a dossier from 2019 that indicates the country was headed in the wrong way, therefore the truth is that they have mismanaged the economy, he emphasized.

Official negotiations for an economic support package for Ghana are anticipated to start on September 26, 2022, according to the Ghanaian government and the International Monetary Fund.

Upon reaching an agreement on a program, Ghana is reportedly looking to receive $3 billion from the Fund over the course of three years.

The latest loan request was for $2.5 billion, which was double the previous $1.5 billion goal set by the administration.