Sergeant Daniel Alolga Akata Pore, a former member of the Provisional National Defence Council (PNDC), has shared his recollection of the events leading to Ghana’s agreement with the International Monetary Fund (IMF) during Jerry John Rawlings’ presidency.
According to Pore, IMF representatives presented a program aimed at providing financial support to enhance Ghana’s economic prospects.
However, Rawlings showed no interest in the proposal, walked out of the meeting, and left the discussion to other government officials.
Despite Rawlings’ absence, the remaining officials agreed to the IMF’s proposal, which included a devaluation plan.
Pore recalled expressing his concerns about the plan, but the IMF representatives were nonchalant about it.
He stated, “By March or April, they brought in the IMF team, led by an Indian country director. They presented their plan at the castle, but when I asked if it wasn’t essentially a devaluation plan, they confirmed it. Rawlings didn’t stay for the discussion; he left the room, and others chaired the meeting. That’s how Ghana entered the IMF program under the PNDC.”
Pore shared this account while discussing the current economic challenges in Ghana and the Akufo-Addo-led government’s decision to seek an IMF bailout.
