July 16, 2024
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Akufo-Addo gov’t struggling to manage economy after failing to plan ahead ~ Seth Terkpe

A former Finance Minister under the erstwhile John Dramani Mahama administration, Mr. Seth Terkper has indicated that President Akufo-Addo government is struggling to manage the economy because it failed to plan for the future.

According to him, during the time of John Dramani Mahama, there was a plan put in place to absorb shocks from any future global crisis.

In a Twitter post on Thursday, April 7, 2022, after listening to the lecture on Ghana’s economy by Vice President Dr. Mahamudu Bawumia, Seth Terkper alluded that Ghana is in a mess because the ruling New Patriotic Party (NPP) was not proactive.

“To diminish the impact of Global financial crisis, shortage of gas supply from Nigeria, single spine, fall in commodity prices (2014) is to explain why, with 3 oil fields, we stopped PRMA buffers, failed to anticipate COVID-19 and struggle to manage the crisis with about $6b,” the former Finance Minister shared on his Twitter page.

In another Tweet, Mr. Seth Terkper expressed shock at Vice President Dr. Mahamudu Bawumia’s blame of the Russia-Ukraine conflict on the challenges facing the economy.

He said it is baffling that government wants to blame its failures in the last four years on a war that only started in February.

“Reminder: Russia-Ukraine war started in only late Feb (one month ago) and being blamed for past 4-year’s failures? God forbid for a prolonged war yet how ready are we for its full impact in the weeks and months?” the former Finance Minister asked.

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