Ghana’s President Sacks Finance Minister Amid Economic Crisis

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Ghana’s President Nana Akufo-Addo has sacked its Finance Minister, Ken Ofori-Atta, as the country eyes an economic recovery.

Mr Ofori-Atta has been in office since 2017 and has faced criticism for Ghana’s current economic crisis, the worst to hit the country in decades.

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 for an IMF bailout.

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.

Mr 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.