Government Spokesperson on Governance and Security, Palgrave Boakye-Danquah has indicated that Finance Minister, Ken Ofori-Atta cannot be responsible for the current economic crisis the country is facing.
He reiterated that, the Minister has conducted his duties perfectly and cannot be criticized for the current economic struggles the country is going through.
“When you look at Ghana’s growth trajectory before 2020, it is clear that the Ken Ofori Atta did an excellent job in managing the economy. However, the influx of the COVID-19 pandemic and the Russia-Ukraine war has eroded the gains,”Palgrave Boakye-Danquah exclusively told Accra-based Metro TV
The Finance Minister managed to stabilize the dollar for a very long time. The dollar until this year was selling at 6 cedis. This shows the kind of work he did to stabilize it. Unfortunately, the US decided to hike their prime rates which is forcing our cedi to fall rapidly. So I don’t understand the call for his dismissal,” he added.
Mr. Ofori-Atta has come under intense pressure belatedly to resign from his post with the most recent coming from Members of Parliament (MPs) from the Majority caucus in Parliament. The MPs, numbering 80 called for his dismissal to boost government’s chances of restoring confidence in Ghana’s economy.
Nonetheless, Palgrave Boakye-Danquah quashed their request insisting that there is no basis for the President to relieve him of his duties citing the instrumental role the Finance Minister played in steering the country towards sound economic footing prior to 2020.
He, however, said Ghana remained the best place for doing business, and that the country was poised for greatness, despite the current difficulties, asserting he was blessed for the opportunity to lead Ghana to the promised land.
The global economic downturn has had a negative impact on Ghana, plunging the country’s economy into difficulties, with rising inflation and high cost of living featuring prominently.
Calls For Ken’s Head
Since the economy went into crisis, there have been calls from various quarters, including Members of Parliament (MPs) belonging to the New Patriotic Party (NPP) Majority Caucus, for Mr. Ofori-Atta to be sacked.
The NPP MPs even threatened to boycott the 2023 Budget reading in Parliament, should President Akufo-Addo fail to relieve him of his post.
“We members of the Majority Caucus of Parliament have had occasions to defend allegations of conflict of interest, lack of confthe idence, trust against leadership of our Finance Ministry,” the MPs, led by Andy Appiah-Kubi, who is the NPP MP for Asante-Akim North, stated.
The NDC Minority Caucus, on the other hand, has also tabled a motion to censure the Finance Minister, accusing him of “poor performance” with the economy, and a “despicable conflict of interest.”
They alleged Mr. Ofori-Atta has been benefiting from Ghana’s economic woes, with his companies receiving commissions and taking “unethical contractual advantage”, particularly from Ghana’s debt overhang.