From 2017, when Bawumia’s Economic Management Team (EMT) took office, every budget presented to Parliament has had an Akan name to signify the purpose of the budget and what it is going to do for Ghanaians but unfortunately, these budgets did not live up to expectations.
The Finance Minister, Ken Ofori Atta, now reshuffled, a member of Dr Bawumia’s EMT, always sounded religious but in reality, was not religious and had numerous names for every budget he presented to Parliament.
He had ‘Asempa’ (Good News) for the 2017 budget, on the assumption of office by the President, Nana Addo Danquah Akufo Addo, to announce the “Good News” to Ghanaians. Still, the budget didn’t have the ‘Asempa’ (Good News) Ken Ofori Atta was trumpeting. In just two weeks in office, the Finance Minister was on the Bond Market for a $2.2 Billion Franklin Templeton loan.
‘Asempa’ (Good News) Budget was followed by the ‘Adwumapa’ (Good Job) Budget in 2018, again, there wasn’t any ‘Good Job’ under the ‘Adwumapa’ budget, because Ken Ofori Atta, the Finance Minister has set his eyes on the Bond Market, taking loans left right center, with the economic indicators showing signs of danger.
Ken Ofori Atta is the only Finance Minister, who had these Akan names for every budget. He gave the name ‘Mpuntuo’ (Progress) for the 2019 budget and ‘Nkosuo’ for the 2020 budget but in reality, ‘Mpuntuo’ and ‘Nkosuo’ are synonymous, they have the same meaning, progress.
Under normal circumstances, these names were supposed to give meaning to the national budgets as presented by the Finance Minister, Ken Ofori Atta, yet the Ghanaian people could not see or feel the gains these budgets were supposed to bring to their lives, as the economy continued its downward spiral.
The 2021 budget was ‘Obatanpa’ (Good Mother) while the 2022 was named ‘Agyenkwa’ (Saviour) but it couldn’t save Ghanaians as the living conditions in the country continue to deteriorate.
It is funny, when his own NPP MPs, the majority, including MPs from the minority side of the August house, were calling for his removal as Finance Minister, Ken Ofori Atta, feigning sickness in faraway United States of America (USA), christened his 2023 budget as ‘Nkabom’ (Unity) and got the Majority leader, Osei Kyei Mensah Bonsu to read his ‘Nkabom’ (unity) Budget.
At the tail end of the Akufo Addo/NPP administration’s term in office, Ken Ofori Atta, having survived the avalanche from Members of Parliament and feeling very accomplished in his portfolio as Finance Minister, christened his last budget for 2024 as ‘Nkunim’ (Victory). But did the 2024 budget signify a victory for Ken Ofori Atta?
Just as Ken Ofori Atta, fully aware of his impending exit from the Finance Ministry and satisfied with himself, Sammy Gyamfi, the National Democratic Congress (NDC) Director of Communication, had a befitting response to the Finance Minister’s victory budget.
Sammy Gyamfi reminded the Finance Minister his 2024 ‘Nkunim’ (Victory) budget failed to address the economic bankruptcy and excruciating hardships Ghanaians were reeling under, owing to the reckless mismanagement of the Bawumia-led Economic Management Team (EMT).
He could not understand how Ken Ofori Atta after the mess he’s created, could look Ghanaians in the face and tell them he’s done so well with the economy of the country.
Ken Ofori Atta and the President, Nana Addo Danquah Akufo Addo, from day one in office, had planned to go to the IMF at the tail end of the NPP administration but created the impression they would never go to the IMF, no matter what.
Now, to put their exit plan in motion, they quickly ran to the IMF, against the will of many of their appointees, who were screaming on rooftops, that they would not go to the IMF.
Simply put, Ken Ofori Atta and Akufo Addo know how bad the Economy is and also know with the IMF here and directing affairs, the Ghanaian economy will be in a better shape before the December 2024 election and the handing over in January 2025.
Sammy Gyamfi, NDC’s Communications Director, alluded that the 2024 budget the Finance Minister was so proud and excited about, has left the country in a self-inflicted debt crisis, with a high unemployment rate of 14%, an unbearable inflation rate of 35.2%, and a crippling lending rate of average 36%.
This is to give readers a glimpse of the Economic war ensuing between the two major political parties as the country goes to the polls but unfortunately, the Ghanaian voters, as usual, don’t even realize the difficulties they are going through because of the mismanagement of the economy by the current administration and instead focused on what they can get out of politicians in the build-up to the December 7, 2024 elections.
Ken Ofori Atta, now out of government, and his cousin, President Akufo Addo, are on their way out of office but they keep screaming “Mahama left us a mess”. As they make their exit, have they thought about the mess they are also leaving behind for the next administration?
Let me give readers a hint of what the President, Akufo Addo, his Vice President, Dr. Mahamudu Bawumia, and the former Finance Minister, Ken Ofori Atta are leaving behind after eight (8) years in office.
Currently, as Ken Ofori Atta leaves the Ministry of Finance, Ghanaians owe the Paris Club, $2 billion, we also owe the Chinese, $1.9 billion, we owe Non-Paris Club members, $3.8 billion, we owe Chapeltown, $2.5 billion, we owe the IMF, $8.8 billion, the Eurobond Market, we owe them, $14.9 billion and also owe Multilateral debts amounting to $8.8 billion.
So, is the Akufo Addo, Dr. Bawumia, and Ken Ofori Atta-led NPP administration leaving a mess for Ghanaians or leaving the country with an Economy that can be described as an Economy that is doing well?
Source – Jojo Bruce-Quansah
jojobrucequansah@gmail.com
