Ofori-Atta must seek help from Seth Terkper I’m addressing economic challenges – Prof Gyampo
Political Science lecturer at the University of Ghana, Professor Ransford Gyampo, has urged the Finance Minister, Ken Ofori-Atta, to seek help from erstwhile Minister for Finance Seth Terkper, in addressing the country’s economic challenges.
According to Prof Gyampo, Mr Terkper has enough experience and knowledge that can be useful in critical economic times such as this.
The request by Prof Gyampo to have Mr Ofori-Atta seek help from his predecessor, is contained in a Facebook post made by the academic urging the President Akufo-Addo to order the Finance Minister to seek assistance from Mr Terkper.
In his view, Ken Ofori-Atta seems to be over ministerial reshuffle, a situation that keeps worsening Ghana’s economy.
“It is decidedly clear that Ken Ofori Atta is beyond ministerial reshuffle. Mr Presidnt, please task him to seek some assistance from Seth Tekper in addressing our economic miseries. For, winner-knows-all politics hasn’t been helpful,” Prof Gyampo stated in the Facebook post.
Ghana’s economy is going through difficulties leading to hardships for Ghanaians.
The cedi has been reported by Bloomberg to be the worst-performing African currency and is also constantly depreciating against some major international currencies.
The currency has dropped by at least 35 per cent in 2022, according to Bloomberg.
Government has thus said it will fast-track negotiations with the IMF to ensure key aspects of the programme are reflected in the 2023 budget statement.
However, Mr Ofori-Atta has insisted that the economy is gradually on the upswing despite the numerous shocks it faced over the past two years.
“This progress gives us a solid foundation to confront the challenges ahead. Undoubtedly, global risks remain on the horizon, including a strengthening US dollar and higher interest rates which negatively affect external borrowing.”
“This development is exerting enormous pressure on our Balance of Payment position, and thus the need for us to expedite our engagement with the International Monetary Fund”,the Finance Minister mentioned at a press briefing last week.
