Development Economist, Dr Michael Adongo has observed that finance minister, Ken Ofori-Atta’s reputation was badly stained in the financial sector cleanup that happened in 2017 and 2018.
I’ve been calling for this because I think that he was badly stained in the banking sector cleanup and then also his close association with the President meant that people couldn’t actually get through to him with very serious critical advice. He easily brushes you aside and you can’t do anything because you can’t report him to any higher authority.
Majority of NPP MPs are calling for the dismissal of Ken Ofor-Atta and Dr Charles Adu Boahen, Minister of State at the Finance Ministry over their poor handling of the economy.
Dr Adongo says the “economic machinery of this government needs some serious overhaul. The engine needs to be removed and replaced with one that is efficient, one that can take onboard fresh ideas to go”.
The cedi last week was rated the worst performing currency in the world against the US dollar.
“Behind the scene we’ve all known there’s been some serious official financing of printing of money through some channels that we do not know, and the depreciation of the cedi is largely because there’s too much cedis to chase any dollar we’ve in the country. There’s simply not enough dollars to meet demand and that’s because we’ve printed a lot of money”.
He attributed the situation to the inefficiency of the Governor of the Bank of Ghana.
I think that there’s a need for some change. Someone who can be bold enough and say no to the executive branch and the physical policy of government if they’re going beyond our inflation targeting mechanism and also talk about our budget.
Source: A1radioonline.com|101.1MHz|Osuman Kaapore Tahiru|Ghana