Economic crunch: Sacking Ofori-Atta now ‘suicidal’ – Assibey-Yeboah

Now is the worst time to think of sacking Finance Minister Ken Ofori-Atta, former chairman of the finance committee of parliament, Dr Mark Assibey-Yeboah, has said.

“It will be suicidal for the minister to be taken off at this crucial hour,” the former MP for New Juaben South said on Accra-based Oman FM, wondering: “To what end? What will it profit us?”

According to him, “even if a new minister is nominated today, it will not take this short period to vet and swear that person into office.”

“That person is likely to be sworn into office in 2023”, the ex-MP noted.

In his view, Mr Ofori-Atta’s deputies “can also not perform the function of the substantive minister”, pointing out: “Parliament can even decide not to hear a deputy minister.”

Some NPP MPs are pushing for Mr Ofori-Atta’s exit.

They say he has been abysmal in handling the economy.

Mr Ofori-Atta, however, defended himself before an ad hoc committee set up by the Speaker of Parliament, following a censure motion filed against him by the minority caucus.

He refuted claims that he has mismanaged the country’s economy leading to the depreciation of the Ghana cedi against the world’s major trading currencies when he testified on Friday, 18 November 2022.

One of the 7 grounds, on which the minority in parliament, is asking for the removal from office of the finance minister is “fiscal recklessness leading to the crash of the Ghana cedi, which is currently the worst-performing currency in the world.”

However, Mr Ofori-Atta told the committee: “On all occasions, I have come to parliament to present the annual or mid-year budget, I have discussed all propositions of government in revenue and expenditure and financing, and on all these occasions, I have received approval as parliament subsequently passed appropriation bills on them.”

Mr Ofori-Atta added: “Every key expenditure made has been supported by this house. Indeed, we also saw the dire consequences when the house, for months, refused to pass a major revenue generation item introduced by the government to support the fiscal stability of the economy.”