Professor of Finance at the University of Ghana, Prof. Godfred Bokpin, has called on the government to issue an apology to Ghanaians for its failure in managing the economy. Speaking on Joy FM’s Newsnight, Prof. Bokpin emphasized the need for humility from the New Patriotic Party (NPP) administration in admitting their shortcomings.
He highlighted the significant resources, including tax revenue from oil and borrowing, that the current government has overseen, indicating a need for an apology to the citizens. Despite acknowledging that no government is perfect when it comes to borrowing, he noted a worsening situation under the Akufo-Addo-Bawumia government.
The comments from Prof. Bokpin follow remarks from former Deputy Finance Minister and NPP Member of Parliament, Kwaku Kwarteng, who likened the management of Ghana’s economy to a ponzi scheme. Kwarteng attributed the economic challenges faced at both national and household levels to decades of poor governance and inefficiency across various administrations.
In response to these criticisms, the Deputy General Secretary of the NPP, Haruna Mohammed, defended the party’s track record in managing the economy. He argued that despite external challenges like COVID-19 and the Russia-Ukraine war, the NPP has effectively handled the economy, showcasing growth even in difficult times.
The ongoing dialogue between economic experts and political figures highlights the importance of effective governance and transparency in managing the economy. As various stakeholders share their perspectives, it remains crucial for the government to address concerns and work towards sustainable economic development for the benefit of all Ghanaians.
