Policy Analyst, Selorm Branttie, has stated that the legacy of Ghana’s current Minister for Finance is wiping out the country’s middle class.
Ken Ofori-Atta on Sunday, December 4, 2022, announced via a video broadcast a Domestic Debt Exchange forming part of the government’s wider Debt Operation programme by the state.
The Minister laid out among others the exchange of existing domestic bonds with four new ones as well as their maturity dates and terms of coupon payments.
He also addressed the overarching goal of the government relative to its engagements with the International Monetary Fund as well as measures to minimize the impact of domestic bond exchange on different stakeholders.
But reacting to the minister’s announcement on a Facebook page, Selorm Branttie said the ripple effect of the programme which he said is a result of the government’s ineptitude, sets Ghana back to 1994 when the country recorded its lowest growth rate.
“Ken Ofori-Atta’s lasting legacy as a finance Minster is wiping out the middle class in Ghana into vapour. That same middle class that was instrumental in bringing him and his colleagues into power.”
“The ripple effects of his ineptitude has set a whole generation of Ghanaians back to 1984. He should take that shame to his grave,” he stated.
There is a public frenzy about Ghana’s current economic status with several concerns being shared about the impact of the announcement.
Meanwhile, the finance minister is expected to share further details about the country’s Debt Restructuring program.