Financial sector cleanup ‘credible excuse’ for NPP's inability to achieve campaign promises – Gabby

Gabby Otchere-Darko, leading member of the governing New Patriotic Party, has hinted of the governing New Patriotic Party’s likely inability to achieve all of its campaign promises it made to Ghanaians in the lead up to the 2016 general elections, ABC News Ghana can report.

The legal practitioner avers that the government has been compelled to look for money within a short period of time to address the challenges that confronted the financial system within period the party has been in power.

Should the party fail to fulfil some of the numerous pledges it made to Ghanaians due to lack of funds, Gabby Otchere-Darko believes the huge investment made to clean up the financial sector is a reasonable justification.

The banking sector cleanup according to the Central Bank cost about GHC14 billion with that of the non-bank sector cleanup costing the taxpayer about GHC4 billion.

Gabby Otchere-Darko mentioned on his Facebook wall that, “…the decision to rescue the financial sector has offered the NPP, I suspect, a convenient campaign message for 2020. It provides, I think, a pretty credible excuse for those NPP manifesto items that are not likely to to be fulfilled before December 2020…”

Believing that it is prudent use of the taxpayers funds, the leading NPP member defended the decision to embark on the financial sector cleanup asserting, “And, apart from Rwanda, where 70% of government expenditure is donor-funded, I cannot think of another African country that has been able to develop meaningfully on aid. If aid is about money then the decision to fix the financial services sector has been absolutely necessary.”

Here is the full write-up by Gabby Otchere-Darko;