Amin Adam Can't Revive the Economy in 9 Months - Seth Terkper

-

Seth Terkper, a former Finance Minister, has raised doubts regarding the appointment of Dr. Mohammed Amin Adam as the new Finance Minister by President Akufo-Addo. 

Terkper voiced reservations about the timing of this change, particularly in the context of Ghana's ongoing IMF program.

Related To This: Akufo-Addo’s Ministerial Reshuffle is Politically Motivated - Minority

Terkper highlighted concerns about Dr. Adam's capacity to influence significant economic policies within the remaining timeframe, especially with the upcoming general elections. Given the President's authority over budget and economic policy decisions, Terkper underscored the potential hurdles Dr. Adam might encounter in effecting substantial policy alterations within the constrained timeframe.

In an interview with Accra-based Citi FM on February 15, Terkper advised the Ghanaian public to temper their expectations, suggesting that drastic shifts in economic policies might not be feasible in the current circumstances. He pointed out the complexities of economic challenges faced by the country and questioned the feasibility of achieving a quick economic turnaround given the prevailing conditions.


Reflecting on the historical context of economic challenges and external factors impacting Ghana's economy, Terkper highlighted the urgent need for realistic assessments of the turnaround potential within the limited time span of nine months. He emphasized the importance of considering past experiences and global economic conditions in gauging the feasibility of significant economic transformations.

Related To This: New Finance Minister Reaffirms Ghana's Commitment to IMF Programme

Background on Appointment and Ministerial Reshuffle

President Akufo-Addo appointed Dr. Mohammed Amin Adam as the new Finance Minister on February 14, replacing Ken Ofori-Atta, who held the position for seven years. Despite facing calls for dismissal due to economic challenges, Ofori-Atta remained the longest-serving finance minister in Ghana.

Calls for Ofori-Atta's Resignation and Presidential Response

Notably, around 80 NPP MPs demanded Ofori-Atta's resignation on October 25, 2022, citing economic struggles. Similar calls were reiterated by the NDC parliamentary caucus in February 2023, though President Akufo-Addo resisted these calls, opting to await IMF discussions before any decisions regarding Ofori-Atta's tenure.

Comments

Post a Comment

Popular posts from this blog

GJA Calls For Media Blacklist on Yendi MP for Allegedly Assaulting Journalist

-
Image
In response to allegations of assault against Mohammed Aminu M. Alabira, the Northern Regional Correspondent for Citi TV, the Ghana Journalists Association (GJA) has called for a national media boycott of Farouk Aliu Mahama, the Member of Parliament for Yendi. Important industry actors have endorsed the GJA's directive: the Media Foundation for West Africa (MFWA), the Private Newspaper Publishers Association of Ghana (PRINPAG), and the Ghana Independent Broadcasters Association (GIBA). Related To This: Hawa Koomson Threatens to Sue GJA President Over Assault Allegations The coalition asked all media outlets to uphold Farouk Aliu Mahama's blacklisting till further notice during a joint press conference on Tuesday, February 6. The media professionals were put at serious risk due to the MP's purported connections to those who could potentially pose a threat to journalists. The groups emphasized, "All media houses must refrain from providing any coverage, interviews, or a
Read more

Taxes Now Serve as Punishment to Businesses - Mark Badu-Aboagye

-
Image
The Ghana Chamber of Commerce and Industry's CEO, Mark Badu-Aboagye, has expressed grave concerns about the growing burden of direct and indirect taxes placed on the country's enterprises.  During an open discussion on JoyNews' PM Express, Mr. Badu-Aboagye brought attention to the mounting difficulties that businesses are facing in light of rising expenses and financial commitments, especially with regard to tax responsibilities. Related To This: Akufo-Addo's Imposed Tax Policies Will Make The Next President Suffer - Franklin Cudjoe Mr. Badu-Aboagye expressed his dismay and emphasized the unsettling consequences of the existing tax structure, describing it as harsh and onerous for companies aiming for expansion and sustainability.  He underlined, saying, "I believe that rather than helping businesses, our taxes now serve as a punishment to them. This is because they expect you to pay, but we are unable to. They are beating us but they are telling us to keep quiet.&
Read more

Use Emission Tax Funds to Support EPA - Professor Kofi Amegah

-
Image
The University of Cape Coast's renowned environmental and nutritional epidemiology lecturer, Professor Kofi Amegah, has suggested that money from emission levies be used to support environmental protection organizations.  During his February 1 appearance on The Pulse on JoyNews, Professor Amegah emphasized how vital it is to improve the Environmental Protection Agency's (EPA) capacity to efficiently track pollution levels and strengthen environmental conservation measures. Related To This: Implementation of Emissions Levy Act Commences Today Professor Amegah emphasized the need to reallocate a portion of the proceeds from the emission tax in order to relieve the EPA's budgetary constraints, given its limited resources. He highlighted that such support would enable the acquisition of reference-based monitors, which, when installed in urban areas, can furnish essential data vital for formulating effective air pollution control policies. Additionally, the resulting data would
Read more