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Friday, September 29, 2023

The Bible is a poor guide for macroeconomics – Steve Hanke tells Ofori-Atta

A Johns Hopkins Professor Steve Habne has told Ghana’s Finance Minister Ken Ofori-Atta to get real in the management of the local economy.

In a tweet, he said “Ghana’s Finance Minister Ofori-Atta justified defaulting on debt by quoting the Bible: “nothing will be lost, nothing will be missing.” The Bible is a poor guide for macroeconomics. It’s time for Ofori-Atta to stop bamboozling Ghanaians and get real.”

His comments come after Mr Ofori-Atta announced the suspension of payment on some external debts including the country’s Eurobonds.

According to Mr Ofori-Atta, this is part of an interim emergency measure to save the country’s ailing economy.

“This suspension will not include the payments of our multilateral debt, new debts (whether multilateral or otherwise) contracted after 19th December 2022 or debts related to certain short term trade facilities,” a statement issued by on Monday, December 19 said.

By Laud Nartey/3news.com/Ghana

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