Renowned economist Dr. Nii Moi Thompson has lambasted the Akufo-Addo administration for its handling of COVID-19 funds, citing gross mismanagement. In an interview with Channel One TV on Wednesday, June 19, Dr. Thompson revealed that the pandemic unexpectedly boosted the government’s financial position, with significant financial gains for Ghana.
Dr. Thompson highlighted that the International Monetary Fund (IMF) provided Ghana with a $1 billion grant without conditions in 2020, followed by an additional $1 billion in 2021, which was notably absent from the Auditor General’s report on COVID-19 expenditures. He further disclosed that Ghana received a total of GHC27 billion in COVID-19-related funds, but only 42% of this amount was utilized for direct COVID-19 expenses, leaving a substantial portion unaccounted for.
Dr. Thompson emphasized that the government viewed COVID-19 as a financial opportunity, exceeding revenue targets in 2020 despite declines in certain sectors. He noted that the ICT and telcos sectors experienced significant growth during this period.
“It was a financial bonanza for the government… they exceeded revenue targets in 2020, despite what everyone else thinks,” Dr. Thompson said. “The IMF gave us a billion dollars in cash in 2020, pretty much with no conditions attached… in 2015, they pledged $940 million spread over three years.”
Dr. Thompson’s criticism raises concerns about the government’s transparency and accountability in managing COVID-19 funds. His allegations of mismanagement and potential oversight underscore the need for a thorough investigation into the matter.
