FLASHBACK: Osafo-Maafo is a disgrace to economics – Kofi Wayo

Mr Wayo made his argument based on the several avoidable blunders made by the Yaw Osafo-Maafo while he was in office as the Finance Minister in the Kufuor administration.

Speaking in an interview with The Al-Hajj, Mr Wayo stated that: “it is an insult to Ghanaians for ‘Maafo Safo’ to come and be lecturing us on how to run the economy… if there is anybody to be blamed for the shocks in the economy, Osafo Maafo and the NPP are to be blamed.”

He stated; “Do you remember the CNTCI loan that Osafo Maafo made a lot of noise about that later turned to be a scam? … the address of the company was traced to a hairdressing salon… do you remember the scandalous IFC loan? ...do you remember the infamous admission by Osafo Maafo signing a German debt-relief agreement without reading it… is this the man to lecture us on the state of the economy? He is a disgrace to economics,” he roared.

Read the full story originally published on July 17, 2013, on Ghanaweb

Leader and Founder of the United Renaissance Party (URP), Charles Kofi Wayo, has lashed out at Mr. Yaw Osafo Marfo, a former Finance Minister under ex-President Kufuor’s administration, describing him as a “character” who lacks the economic intellect and prowess to access the economic management of the Mahama-led administration.

He said, considering the financial blunders committed by Mr.Osafo Marfo when he served as Finance Minister out of which he went searching for a loan from a hairdressing salon and also signing a loan agreement without reading it, he together with his party would not have been better managers of the economy as “he and the NPP want Ghanaians to believe.”

Speaking in an interview with The Al-Hajj, enigmatic Kofi Wayo explained that: “it is an insult to Ghanaians for ‘Marfo Safo’ to come and be lecturing us on how to run the economy… if there is anybody to be blamed for the shocks in the economy, Marfo Safo and the NPP are to be blamed.”

The URP founder and leader stated that, but for the vigilance of the National Democratic Congress Members of Parliament during the reign of the New Patriotic Party, Mr. Osafo Marfo would have led Ghana to sign dubious contracts with non existing foreign companies.

“Do you remember the CNTCI loan that Marfo Safo made a lot of noise about that later turned to be a scam?… the address of the company was traced to a hairdressing salon… do you remember the scandalous IFC loan? ...do you remember the infamous admission by Marfo Safo signing a German debt-relief agreement without reading it… is this the man to lecture us on the state of the economy? He is a disgrace to economics” he roared.

Mr. Wayo said, signing an international agreement as a Finance Minister without reading it is a justification for an unbelievable admission of incompetence and irresponsibility on the part of Mr. Safo Marfo that demonstrate that he lacks the moral right to criticize the Mahama-led administration.

The NPP led by Mr. Osafo Marfo last week referred to Ghana’s economy under the Mahama administration as being in tatters, largely due to “the huge public debt; the lamentable fiscal deficit, the humongous arrears, unbridled overspending, worsening unemployment, deteriorating utility services and failing social services.”

Speaking at a press conference christened “Ghana’s Troubled Economy” Mr. Marfo claimed that the 2013 Budget statement, which was presented as a set of remedies to give the nation a breakthrough, was only “hogwash of an assorted patchwork of propaganda.”

But in a sharp rebuttal, Chuck as Mr. Wayo is popularly known, explained that it does not lie in the mouth of “elements within the NPP, especially Marfo Safo, to tell Ghanaians what the economy looks like when he has shown enough incompetence when it comes to matters of the economy.”

“In any moral society, this guy should have been languishing in jail and not worrying Ghanaians with his so-called views on the economy,” he added.