The former Deputy Finance Minister and Member of Parliament for Nhyiaeso, Dr Stephen Amoah, has defended the previous Akufo-Addo administration's decision to seek an International Monetary Fund (IMF) bailout.

He attributed the economic downturn to global shocks from the COVID-19 pandemic and the Russia-Ukraine war, rather than policy failures.

His remarks followed the current NDC government's announcement that Ghana is transitioning from the IMF bailout to a Policy Coordination Instrument (PCI), signaling an exit from the fund-supported programme.

Speaking on Citi Eyewitness News on Monday, May 18, Dr Amoah stated that Ghana's economy maintained strong macroeconomic stability, fiscal growth, and social intervention programmes during the administration's first three years, noting that inflation averaged 7% before the external crises hit.

While acknowledging that Ghana faces long-standing structural weaknesses, such as import dependence and persistent spending patterns across successive governments, he maintained that the previous administration had already directed the economy toward fiscal discipline and consolidation before exiting office.