Bolgatanga Central MP, Isaac Adongo, has expressed astonishment over the appointment and tenure of former Finance Minister Ken Ofori-Atta, criticizing his handling of Ghana’s economy.
In an interview with GHOne TV, monitored by MyNewsGh.com, Adongo questioned how Ofori-Atta, who once assured investors of Ghana’s economic stability, later admitted the country could not meet its debt obligations.
“Eeii, at the peril of my life. I am surprised this country ended up with such a finance minister. To be honest with you, I am very surprised we ended up like that. I am extremely surprised. Because a finance minister who, as late as February 2022, was convincing people to give us $3 billion because the economy was robust, in seven, eight months’ time, this man wrote a letter to the same people that we can’t pay you. He didn’t write to them; he posted an open letter—‘to whom it may concern,’” he stated.
Ken Ofori-Atta’s Economic Controversies
Ken Ofori-Atta, who served as Ghana’s Finance Minister from 2017 to 2023, was at the center of multiple financial controversies throughout his tenure.
Under his leadership, Ghana faced severe economic challenges, including high inflation, a depreciating cedi, and a mounting debt crisis that forced the country to seek an IMF bailout.
One of the most contentious policies under his administration was the government’s domestic debt exchange program, which resulted in significant losses for bondholders, including pensioners who staged protests against its implementation.
Additionally, Ofori-Atta was accused of a conflict of interest due to his links with Databank, an investment firm he co-founded, which allegedly benefited from government bond transactions. These concerns, coupled with allegations of economic mismanagement, led to widespread calls for his removal.
Calls for Removal and Political Repercussions
In late 2022, a group of Majority MPs joined the Minority in Parliament in demanding his dismissal, citing economic mismanagement. However, despite mounting public pressure and protests, President Nana Akufo-Addo retained him in office until his tenure ended in 2023.
Adongo’s remarks add to the ongoing debate over Ofori-Atta’s legacy, with critics blaming him for Ghana’s financial crisis and the nation’s dependency on an IMF bailout.
Source: MyNewsGh.com
