The Director of Research at the Institute of Economic Affairs, Dr. John Kwakye, has challenged President Akufo-Addo’s assertion that the Finance Minister has done well and therefore cannot be sacked, saying, Finance Ministers must always be held responsible for a country’s economic problems.
In a tweet, the economist and a former member of the Monetary Policy Committee of the Bank of Ghana said since Finance Ministers are responsible for managing the finances of every country, therefore they must take the blame for any mess created.
“Finance Ministers must always be held responsible for a country’s economic problems no matter the source. Kwesi Kwarteng is a clear example”.
Dr. Kwakye also said the solution to the country’s problems does not rest with the IMF or the World Bank.
“The answer to our problems doesn’t lie in Washington. It lies right here in Ghana”.
Regarding the free fall of the cedi, Dr. Kwakye called for urgent interventions to slow down its depreciation.
“Urgent interventions are needed to stop the hemorrhaging of the cedi”.