What did they do with the Eurobonds? – Khalid slams NPP’s economic record

Dr. Sharif Mahmud Khalid, an Economic Adviser to Vice President Jane Naana Opoku Agyemang, criticized the opposition New Patriotic Party (NPP). He accused them of mishandling Eurobonds and celebrating borrowed funds.

In a Metro TV interview, Dr. Khalid condemned the former government's approach to external borrowing. He called it superficial and unserious.

He asked, “What did they do with the Eurobonds? What investments can they show?” He noted that celebrations occurred at the Ministry of Finance over bonds. Meanwhile, his team is now defending the economy.

Dr. Khalid described this behavior as a “Ki party culture.” This term sarcastically refers to celebrating inflows without considering fiscal responsibility or productive investments.

He explained Ghana's engagement with the International Monetary Fund (IMF). The program aims not just for financial support but also for economic discipline.

“The IMF program gives you a watchman—some say a babysitter,” he said. “You’ve admitted you can’t look after yourself.” This involves financial discipline and boosting investor confidence.

Dr. Khalid pointed out that even the previous government missed funding tranches from the IMF due to noncompliance. He highlighted deeper issues of indiscipline and mismanagement.

He also criticized the opposition for their selective view on global events. They used the Russia-Ukraine war as an excuse but dismissed global factors when mentioned by others.

“They say we’re shifting blame,” he remarked. “Why is it debated that the cedi is doing well? Shouldn’t we ask what caused our problems in the first place?”