The people’s Forum, a Non-Governmental grouping, says the dismissal of the Minister of Finance, Seth Terkper by the President will not solve the country’s current economic problems.
Speaking at a press conference yesterday in Accra, the group attributed the current economic crunch to the lack of a sound national economic plan, which had resulted in weak economic fundamentals crippling the nation’s economy,” among others.
Spokesperson for the forum, Clement Anole, in a speech noted: “Indeed, there is an Economic Management Team duly headed by the Vice President Paa Kwesi Amissah Arthur, who are doing their best in the wake of the difficulties we find ourselves in. The team is amply composed of representatives from key institutions, including the Bank of Ghana (BoG) and the Ministry of Finance.
“Decisions concerning the management of the economy were collectively taken through an intricate collaboration with Cabinet, so why single out one man when it appears certain decisions have so far not effectively reined in the fundamentals needed to eliminate the nagging economic challenges?” he quizzed.
“Inasmuch as we cannot disband the Economic Management Team, we can also not just uproot the Finance Minister, Seth Terkper who has so far shown that despite the huge backlash of the tough decisions he should be coordinating, he is not averse to carrying through important economic reforms that should put the Ghanaian economy back on its right tracks.
“Ghana, while being on the verge of becoming a proper middle income economy, has not quite been able to adjust its infrastructure over the years to accommodate the needs of its booming economy.
Spencer Quaye, a senior member of the forum, said Seth Terkper had been swift in taking steps to address the economic problems but the weak nature of our economic fundamentals had defied the responses.
The People’s Forum also said there had been several calls recently from some members of the ruling government like Allotey Jacobs, Central Regional Communication Director of the NDC and Alhaji Bature Iddrisu of the Al Hajj, an Accra-based newspaper, to President John Dramani Mahama to sack Mr. Terkper.
The Forum proposed that Ghana’s economy should be transformed into a semi-secondary “where natural resources that were hitherto exported in their raw forms will be given a certain level of value addition to attract more foreign exchange, technology transfer and a general sense of industry and commerce.”
Politicians must be made to reduce their election spending, members of the group said, claiming that “spending during elections have cost the country a lot over the years. Most governments think about how to win the next election and not about how to take a long-term economic plan that will drive the nation to success.”