Ghana’s Minister of Finance, Ken Ofori-Atta, has taken personal responsibility for the country’s dire economic situation, saying he shares the pain of the people of Ghana.
On Monday, November 18, 2022, in response to the reasons the minority NDC Members of Parliament are seeking his removal via a vote of censure, he made this statement.
He felt it was his duty as the guy the President had entrusted with the economy to admit the difficulty of the situation and offer an apology.
“…Today, I acknowledge that our economy is facing difficulties and the people of Ghana are enduring hardship. As a person President Akufo-Addo has put in charge of this economy, I feel the pain personally, professionally, and in my soul. I see and feel the terrible impact of the rising prices of goods and services on the lives and livelihoods of ordinary Ghanaians.
“I feel the stress of running a business but it is the strength and perseverance of the Ghanaian people that inspire me and my colleagues in government every day. That is what gives me the hope to press on to find solutions and relief for Ghanaians from the myriad of problems that our country and the rest of the world are facing especially since March 2020. Let me use this opportunity to say to the Ghanaian people what I believe with courage every Finance Minister around the world may wish to say to their people now. I am truly sorry,” Ofori-Atta said.
Before a vote can be taken on the censure motion, which speaker Alban Bagbin has admitted for consideration, the Finance Minister must appear before the ad hoc committee set up by parliament to give him a hearing.
The seven charges leveled against the minister by the minority MPs include wasteful spending, conflicts of interest, financial recklessness that contributed to the free fall of the Ghana cedi, and poor economic management.
To examine the proposal, the House of Representatives formed an ad hoc committee consisting of eight members.
Ken Ofori-Atta is accused of making illegal transfers from the Consolidated Fund to pay for the building of the National Cathedral.
Lawmakers accused him of ‘deliberately and dishonestly’ misreporting economic statistics to Parliament and of making ‘illegal’ transfers of oil earnings into offshore accounts.
Further, it is stated that the Minister has been accused of fiscal recklessness, which has resulted in the crash of the Ghana cedi, the world’s worst-performing currency; alarming incompetence, which has led to the collapse of the Ghanaian economy and an excruciating cost of living crisis; and frightening ineptitude, which has led to the collapse of the economy.
