Why are you still in office when you collapsed banks on the basis of mismanagement? – Edudzi questions Ofori-Atta

Private legal practitioner and member of the opposition National Democratic Congress, Godwin Edudzi Tamakloe has questioned the basis of the continued stay in office of the Minister for Finance, Ken Ofori-Atta.

According to Edudzi, the minister for finance should find a reason to leave his job based on the current state of the economy

“You are the same minister of finance who told the whole world that you will never go to the IMF, principle and consistency. Now you have run the system so badly…. So then you go back for your own voice and on principle, you have to say I will let go.

“You took over an economy that was so strong at the time that you were able to borrow US$11 billion in Eurobonds on the strength of the economy that you took over. Today, six years down the line, the same economy cannot borrow GHC1 from the Eurobond Market. So on principle, you tell yourself that thank you Mr President for the confidence you reposed in me but I am leaving the scene,” he told Kwame Nkrumah Tikese on Okay FM’s Ade Akye Abia morning show.

Referencing the government’s decision to close down some banks during the 2017 banking sector cleanup exercise, Edudzi emphasised that Mr Ofori-Atta should resign on the same principle.

“You see, his continues presence in the financial system is hurting people. Ken Ofori-Atta and Governor Addison decided to collapse banks when he came into office. What was the reason for cleaning up the banking sector? They said it was due to mismanaging and that the banks were on the verge of insolvency. Is this country not insolvent? So if you; Ken Ofori-Atta, governor Addison, Nana Addo and Dr Bawumia can collapse banks on the strength that those banks have been mismanaged why are you still in office?” he questioned.

Ghana is currently plunged into serious economic distress with the nation’s debt shooting through the roof.

The minister for finance has announced a debt sustainability program aimed at controlling the country’s debt.

There is a public frenzy about Ghana’s current economic status with several concerns being shared about the impact of the announcement.