In a Facebook post on February 10, 2023, Kofi Bentil, a lawyer in Ghana, expressed his concerns about the country’s current economic crisis, which he described as the worst economic catastrophe in our lifetimes. Bentil believes that the president needs to take decisive action, particularly at the Ministry of Finance, by making radical changes, including removing all political leadership led by Minister Ken Ofori-Atta.
Bentil criticized President Nana Addo Dankwa Akufo-Addo’s posturing on the economy, saying that it signals that he is not taking the issue seriously. He suggested that Vice President Mahamudu Bawumia, in his role as the head of the Economic Management Team, be seconded to take charge of the ministry and lead talks with the International Monetary Fund (IMF).
Bentil recommended that the political leadership of the Ministry of Finance be removed, but they should continue to work behind the scenes to help resolve the mess they created. He believes that the same thinking that created the problem won’t solve it and calls on the president to treat the issue with the seriousness it deserves.
Ghana is currently seeking an IMF bailout to save the economy from collapse, with rising inflation, rapid depreciation of the cedi against the US dollar, and credit downgrades by international rating agencies. The recent subscription of a Domestic Debt Exchange Programme (DDEP) is seen as a core condition that could help Ghana get approval of the IMF board after a Staff-Level Agreement was reached last December. Minister Ofori-Atta is scheduled to appear before Parliament to answer questions about the DDEP
Read Kofi Bentil’s full post:
Mr President,
If it’s serious, treat it like it is!!
You have changed nothing in the economic leadership of Ghana despite the worst economic catastrophe in our lifetimes!! It reflects very poorly on you.
Please consider this to show seriousness.
1. Appoint the VP and head of EMT to take direct charge of the ministry of Finance and lead the efforts with the IMF and the Bond holders etc.
2. Remove the whole political leadership of the Ministry of Finance but let them continue to work behind the scenes to help resolve the mess they created.
If it’s serious l, treat it like it is!!! The same thinking which created the problem won’t solve it!!!
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