Minister of State-designate for Finance Ministry, Dr Mohammed Amin Adam, has refuted claims that the Finance Minister, Ken Ofori-Atta and the Akufo-Addo-led government as a whole have mismanaged the economy.

He attributed the downturn of the economy to the outbreak of COVID-19.

Dr Amin Adam stressed that the economy was on track when the Akufo-Addo-led government took over the affairs of the nation until the country was hit with the global pandemic.

Speaking before the Appointment Committee of Parliament during his vetting, the Minister of State-designate for the Finance Ministry said the current economic challenges will not crush Ghana.

He said, “Mr Chairman, we are not here because somebody has mismanaged the economy. We all know that even before Covid, our economy was on track, we were growing at an average of 6.00 per cent, inflation was low, interest rates were low, we were investing in education, energy, health and infrastructure.

“Therefore, the challenges we are facing as a country will not crush Ghana”, he added.

He was however optimistic the economy will recover from both the internal and external shocks and would bounce back on track.

“This economy will recover, I see light at the end of the tunnel and….Ghanaians will know that they have strong leadership,” he stated.

Meanwhile, government has run to the International Monetary Fund (IMF) for financial assistance.

According to government, the US$3billion loan will restore the country's macroeconomic stability, as well as safeguard the country's debt sustainability among many others.

ESA/FNOQ