Seth Terkper raises doubt about Amin Adam's ability to turnaround economy

Former Finance Minister, Seth Terkper, has expressed doubts about the decision made by President Nana Addo Dankwa Akufo-Addo to replace Ken Ofori-Atta with Dr. Mohammed Amin Adam as Finance Minister.

Mr. Terkper has stated that this change has taken place at a crucial moment when the country is currently under an IMF programme, and he feels that it might be

Read full articletoo late for Dr. Adam to have a significant impact on the economic policies of the president and government.

After the recent reassignment, Dr. Mohammed Amin Adam has promised to prioritize the efforts of revenue mobilization to boost the nation's finances and achieve its expenditure goals.

He has also assured the International Monetary Fund (IMF) of the government's dedication to the ongoing program and committed not to deviate from the government's policies and programs as outlined in the 2024 budget.

During an interview with Citi News, Mr. Terkper highlighted that the budget and economic policy have always been under the President's authority, and with the limited time available until the next general elections, he is concerned that Dr. Adam may encounter challenges in implementing significant policy changes.

Mr. Terkper has also pointed out that as a country, we were unable to do a turnaround of the economy, and we were preemptive in blaming it on COVID-19 and the Ukraine war, where some $6 billion flowed into the economy without the ability to turn it around.

Mr Terkper believes that this administration is not unique in facing global or domestic setbacks, such as droughts,floods or the global financial crisis.

Therefore, he thinks the situation is dire, and we must consider whether nine months is sufficient time to achieve a turnaround.