KEN OFORI ATTA MUST BE COMMENDED FOR HIS SACRIFICE TO THE NPP AND OUR MOTHERLAND(GHANA) POLITICAL SKILZER WRITES

KEN OFORI ATTA MUST BE COMMENDED FOR HIS SACRIFICE TO THE NPP AND OUR MOTHERLAND(GHANA)

#POLITICAL SKILZER WRITES

Ken Ofori Atta must be commended for his courage, dedication, and commitment to our liberal-conservative party in Ghana. He receives nothing from the government but has worked to give life to our breaking the eight(8) agenda that was stroked by unforeseen economic difficulties.

There was a time when our economy was doing excellent and our Finance Minister was named the best Finance Minister in Africa in the year 2018 after inheriting a crippled economy from the NDC that made them lose the 2016 general election by a huge margin.

Year after Ken Ofori Atta’s award, our economy was hit with the impact of the Covid-19 pandemic which rippled through the world and Africa. To save lives, Ghana enacted a variety of containment measures to confront the pandemic and a variety of tax-benefit measures to protect society from severely reduced economic activity that had an impact on our economy.

As members of the United Nations Security Council, Ghana, Kenya, and Gabon publicly condemned Russia’s actions in a vote cast during an emergency session on 25 February 2022. While the reasons for the invasion are many, the conflict took its toll on already unstable global economies scarcely recovering from one of the worst economic downturns since the Great Depression.

To put things into context, the crisis sent oil prices to near 14-year highs, with Brent crude hitting over US$130 per barrel and we all know how the rise of fuel affects the economy and lives of our people. There have been similar claws in global gas markets. And equities and soft commodities, like wheat, also saw significant volatility.

Even before the start of the Russia-Ukraine conflict, several emerging market economies like Ghana were already classified as being at high risk of debt distress. Further compounding the debt issue is that any hikes in interest rates by the US Federal Reserve System will cause some portfolio outflows from Ghana and increase the cost of international financing by 30% of Ghana’s domestic debt held by individual investors, firms, and institutions.

The elevated debt pressures also came amid rising inflation concerns and Ken Ofori Atta was whipped by Ghanaians including me but he never lost hope. He has worked regardless of the pressure given to stabilize and normalize our economy. He deserves our respect, support, and recognition to do more for our country.

Ken Ofori Atta is a treasure that needs to be celebrated, respected, and trusted.