A former Deputy Minister of Communications, Felix Kwakye Ofosu, has reacted to the silence of Vice President Dr Mahamudu Bawumia on Ghana’s economic challenges.
According to him, he is surprised that the Vice President, who used to be very vocal about the economy, is now silent.
Moody, a rating agency, February 4 released a report that downgraded Ghana’s Long Term Issuer and senior unsecured bond ratings to Caa1 from B3 and changed the outlook from negative to stable.
According to Moody “the downgrade is due to the increasing difficult task government faces in addressing the intertwined liquidity and debt challenges, pandemic induced revenue underperformance, tight funding condition on international markets, materially decreasing governance and institutional strength and inflexibilities in the government budget.”
Mr Kwakye Ofosu, in response, noted that as the Head of the economic team, Dr Bawumia supervised the collapse of the economy, therefore, he doesn’t want to talk about it.
“He has completely disappeared from the economic team. He has gone into hiding, and he is avoiding discourse on the economy like the plague,” he said while speaking on Metro TV.
The National Democratic Congress communicator believes the Vice President should take responsibility for the mess created in the economy, accept the problem to get solutions.
“He doesn’t want to touch it with a long pole. He doesn’t want to take responsibility for the mess that he has supervised,” he said.
In one of his arguments, he disclosed his disappointment in the government for going after credit rating agencies for their downgrade of the economy.
“This is the most ridiculous and embarrassing I have ever heard any government make about a downgrade,” he bemoaned.
After the release from Moody on the downgrade of the country’s economy, the government, as well as some officials, believe the downgrade by Moody was underpinned by a lack of groundwork by its Lead Analyst.