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Reuters
Reuters
Business
By Cooper Inveen

Ghana finance minister fends off criticism, apologises for economic hardship

Ghana's finance minister Ken Ofori-Atta said on Friday he was "truly sorry" for the country's economic hardship but defended himself against accusations by lawmakers that he is unfit for the job.

Ofori-Atta has been criticised for his handling of what has become Ghana's worst economic crisis in a generation. This comes at a time when he is leading negotiations with the International Monetary Fund (IMF) for a relief package of up to $3 billion.

The Ghanaian cedi has plummeted more than 40% this year, straining importers of both raw and processed materials. Consumer inflation hit a 21-year high of 40.4% in October on the back of soaring import costs.

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