Former Finance Minister, Dr. Kwabena Duffuor says government’s economic management team should be dissolved and reconstituted.
The team, led by Vice President Dr. Mahamudu Bawumia with Finance Minister Ken Ofori-Atta as a member, takes crucial decisions on how the Ghanaian economy should be managed.
Dr. Duffuor says government’s handling of the recently concluded domestic debt exchange programme is evidence of the need for new hands to manage affairs.
He argues that the same people he believes are responsible for the current mess cannot fix it. He made these comments in an interview.
Dr. Duffuor was responding to a question on whether he agrees with former Chief Justice, Sophia Akuffo that Ken Ofori-Atta’s performance as Finance Minister has not been impressive.
The retired judge had told Joynews’ Raymond Acquah that the current state of Ghana’s coffers is a testament to the Minister’s poor performance.
“For 8 years as a nation, we borrowed over $15 billion. That’s huge money. If this had gone into projects which should pay for themselves, we would have been in a better position now. So the former Chief Justice has a point,” Dr. Duffuor stated.
Asked directly whether he was surprised that Ken Ofori-Atta was still at post, Dr. Duffuor stated that change is necessary.
“No problem can be solved from the same level of consciousness,” he explained.
Dr. Duffuor was further asked whether he thinks the Minister should be sacked.
“The team, not just him, the management team (Economic Management Team), including the Finance Minister, they are the ones who created the problem. Can they solve the problem? Especially when I hear some of them say that, oh but for the fact that we were kicked out of the financial market, we could have gone to borrow 2 or 3 billion. This means the same level of consciousness that created the problem, they haven’t seen that we have a problem yet”, he replied.