Nobody is even sure of where Ghana’s debt to GPD is except… – Joe Jackson

A Financial Analyst at Dalex Finance Mr. Joe Jackson has said that a lot of people are unaware of even where Ghana’s debt to Gross Domestic Product (GDP) is except for the government and the International Monetary Fund (IMF).

Mr. Jackson said this on the Business Focus on TV3, Monday, October 31 while making a comment on reprofiling of Ghana’s debt as well as the call on the Finance Minister Ken Ofori-Atta to go due to the economic challenges.

He said, “Reprofiling of our debt, nobody is even sure where our debt to GPD is except between the government and the IMF.”

Regarding the call to remove Ofori-Atta, he said the problems facing Ghana will not go away by simply changing him.

In his view, unless the thinking, the entire process of managing the economy, and problematic policies are given a second look, removing the Finance Minister will not solve any problem.

Mr. Jackson said “The most important thing we can do today is cut the size of government, send a signal to all of us that we are prepared to face our problems.

READ MORE: Financial sector clean up not Ofori-Atta’s idea, it was an IMF conditionality – Analyst

“If we change the people and we don’t challenge the policies, we don’t change the process, if we don’t change the thinking, nothing will change. I wish that those backbenchers had not just demanded somebody to be changed but some people completely removed.

“It is not handing over from Ofori-Atta or Charles Adu Boahen to another person who will do the same thing.”

Some members of the Majority caucus on Tuesday, October 25 demanded the removal of the sector minister, Kenneth Nana Yaw Ofori-Atta, and the Minister of State at the Ministry, Charles Adu Boahen, as well as their deputies for the poor management of the country’s economy.

They threatened that they will have no business to do in Parliament for the government if this demand is not met.

“We are by this medium communicating our strong desire that the President changes the Minister of Finance and the Minister of State in the Finance Ministry without further delay,” Asante-Akyem North Member (MP) Andy Appiah-Kubi led the over 80 MPs.

“We want to serve notice, and notice is hereby served that until such persons as aforementioned are made to resign or removed from office, we members of the Majority Caucus here in Parliament will not participate in any business of Government by or, for the president by any other Minster.”

A meeting was subsequently called later Tuesday evening by President Akufo-Addo, who appealed for some time for his embattled ministers especially as Ghana is negotiating a deal with the International Monetary Fund (IMF) and the 2023 budget is also being compiled.

Majority Leader Osei Kyei-Mensah-Bonsu on Wednesday, in an interview with TV3‘s Roland Walker, promised to go back to the aggrieved MPs for a meeting and get back to the President.

On Wednesday, he released a statement on the outcome of the meeting with all the Majority MPs.

“After deliberations among the Majority Caucus today, Wednesday, 26th October 2022, it was agreed to accede to the President’s plea.”

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Source:3news.com