Ghana facing the worst economic catastrophe in our lifetimes - Kofi Bentil to Akufo-Addo
Dr. Mahamudu Bawumia and Ken Ofori-Atta
Lawyer Kofi Bentil has described the current economic malaise Ghana is suffering as "the worst economic catastrophe of our lifetimes."
Read full articleHe believes that the president needs to act decisively on same by making radical changes especially at the Ministry of Finance, where he wants all the political leadership led by minister Ken Ofori-Atta removed.
Bentil in a February 10, 2023 post on Facebook lamented the fact that President Nana Addo Dankwa Akufo-Addo's posturing on the economy signalled that he was not taking the economic downturn seriously.
He also advanced the view that Vice President Mahamudu Bawumia in his capacity as the head of the Economic Management Team be seconded to take charge of the ministry and by that talks with the International Monetary Fund (IMF).
"Appoint the VP and head of EMT to take direct charge of the ministry of Finance and lead the efforts with the IMF and the Bond holders etc." his post read in part.
He averred that the removal of "political leadership of the Ministry of Finance" should be on condition that all relieved appointees "continue to work behind the scenes to help resolve the mess they created."
Ghana is currently hoping to secure an IMF bailout to help save the economy from collapse amid rising inflation, rapid depreciation of the cedi against the US dollar and credit downgrades by international rating agencies.
Government only recently concluded subscription of a Domestic Debt Exchange Programme (DDEP) which saw an 85% official subscription rate.
The DDEP is said to be a core condition that could help Ghana get approval of the IMF board after a Staff-Level Agreement was reached last December.
Minister Ofori-Atta is due to appear before Parliament to give answers to lawmakers on the DDEP.
Read Kofi Bentil's full post:
Mr President,
If it’s serious, treat it like it is!!
You have changed nothing in the economic leadership of Ghana despite the worst economic catastrophe in our lifetimes!! It reflects very poorly on you.
Please consider this to show seriousness.
1. Appoint the VP and head of EMT to take direct charge of the ministry of Finance and lead the efforts with the IMF and the Bond holders etc.
2. Remove the whole political leadership of the Ministry of Finance but let them continue to work behind the scenes to help resolve the mess they created.
If it’s serious l, treat it like it is!!! The same thinking which created the problem won’t solve it!!!
SARA
