He has subsequently reiterated his calls for the duo, Finance Minister Ken Ofori-Atta and Vice President Mahamudu Bawumia, to be relieved of their posts by President Nana Addo Dankwa Akufo-Addo.
While in the case of Ofori-Atta, he is backing heightened calls for his sack, he wants Bawumia to be relieved from his role as Chairman of the Economic Management Team.
Speaking at a public lecture themed: "Building the Ghana We Want,' in Accra on October 27, 2022, Mahama said it was sad that his previous calls for this action have not been heeded by Akufo-Addo.
"I re-echoed demands by Ghanaians that the finance minister and the Chair of the Economic Management Team, who have been primarily responsible for this economic catastrophe, be relieved of their positions to breed confidence among stakeholders and offer the economy a new lease of life.
"I asked that the President deploys some of the arsenals in the Presidential toolkit and reshuffle his government to inject innovation and freshness of thinking into the running of the country," he stated.
According to him, sacking Ofori-Atta and Bawumia and undertaking a reshuffle came with some benefits in easing the economic crunch.
"I also asked that the President addresses the nation to inform the public of the specific steps he was intending to take to weather the pending economic storm.
"This address was meant to calm the anxiety of the investor community and rally Ghanaians behind any such efforts. Regrettably, the President dug in and failed to do any of these," he added.
As part of his presentation, the 2020 flagbearer of the National Democratic Congress, outlined a number of short, medium and long-term solutions to the current economic crisis that the government was grappling with.
In a presentation before Mahama’s address, former deputy Finance Minister, Cassiel Ato-Forson laid out how perilous the state of the economy was and the need for Ghanaians to tighten their belts for hard times ahead.
