Akufo-Addo should have spoken about Ofori-Atta - Economist

An Economist and Senior Research Fellow at the University of Ghana, Dr George Domfeh has expressed worry over the fact that the President, Nana Addo Dankwa Akufo Addo did not speak about the Finance Minister while addressing the Nation on the economy on Sunday, October 30, 2022.

Few days ago, some members of the Majority Caucus in Parliament called for the dismissal of the Finance Minister, Mr. Ken Ofori Atta, with immediate effect.

The majority group, led by the Member of Parliament for Asante Akim- North, Andy Appiah Kubi, demanded the removal of the Finance Minister from office at a press conference in Parliament.

According to them, the decision is based on issues of lack of confidence and non-performance on the part of Minister Ofori Atta.

Aside from the Finance Minister, the NPP MPs have also called for the removal of the Minister of State at the Finance Ministry, Dr Charles Adu Boahen.

But President Akufo Addo responding to the calls asked for more time for the embattled Finance Minister to conclude negotiations with the International Monetary Fund (IMF) before any talks of resignation.

Read Also: Fresh inflows of dollars providing liquidity to foreign exchange market – Akufo-Addo

Also addressing the country on the economy on Sunday, October 2022, President Akufo Addo did not say anything concerning the Finance Minister.

President Akufo Addo said as much as the Government believes in free trade, the country must work to ensure that the majority of goods in our shops and market places are those produced and grown here in Ghana.

“My fellow Ghanaians, the success of our efforts at diversifying the structure of the Ghanaian economy from an import-based one to a value-added exporting one is what will, in the long term, help strengthen our economy. We are making some progress with the 1D1F but our current situation requires that we take some more stringent measures to discourage the importation of goods that we can and do produce here,” he said.

But speaking on Atinka TV‘s morning show, Ghana Nie with Ekourba Gyasi Simpremu, Mr. George Domfeh said, “One thing I did not hear about was the Finance Minister. I thought he would speak about it but he did not.” And all that he said was just a summary, he did not give details about the measures. He said he would do a review of imports, but he did not give us the details as to what kind of review he would do. “

Meanwhile, he said the President should establish a Committee which includes stakeholders especially rice producers to review the imports as stated and as well update the public on the whole process.

He was also of the belief that the injection of dollars in the system will help stabilise the cedi.