Today in History: Cut down your government - Joe Jackson to Akufo-Addo over economic crisis

Director of Operations at Dalex Finance, Joe Jackson in October 2022 called on President Nana Addo Dankwa Akufo-Addo to cut down the size of his government to help stabilize the wobbling economy.

He said this in an interview on Kumasi-based OTEC FM.

Read the full story originally published on October 19, 2022 by StarrFM.

Director of Operations at Dalex Finance, Joe Jackson has said that the huge size of the government is the bane of Ghana’s economic problems and not the Minister of Finance, Ken Ofori-Atta.

President Akufo-Addo has stated that calls for him to sack the Finance Minister were unjustified.

Speaking on Kumasi-based OTEC FM on Monday, President Akufo-Addo said there is absolutely no basis for him to relieve the Finance Minister of his position.

There have been several calls from some Civil Society Organizations (CSOs) and other critics alike for the President to sack the Finance Minister as the nation grapples with harsh economic conditions.

But the President contends he cannot turn his back on the Finance Minister because he’s been excellent on the job.

However, commenting on the issue, Mr. Jackson says President Akufo-Addo should take bold decisions that will bring some economic gains to the country.

“If you are looking for a solution to the problem it is not the Minister or the person per se. It is the change of behaviour and the change of policy that will signal that you are serious. Remember that in the UK where a Ghanaian Kwasi Kwarteng was made a scapegoat and dismissed. It also followed immediately with a new appointment and a complete reversal of the policies that were planned," he said.

“What matters to the market was not that Kwasi Kwarteng in particular was sacked, what matters to the market is that the policies were reversed. If the new person that had come and still put the same agenda nothing will have changed,” Joe Jackson told Starr News.

According to the Delex Finance Director, what can save the economic challenges of the country is slimming down the size of the government.

“For me what matters is not because a particular individual has been changed, it is that we change our behavior, we cut expenditure, we cut the size of the government. We signal to the market conclusively that we are prepared to take the hard decision. That is more important than changing a specific individual.”

Mr. Jackson also added that Ghanaians are looking at what is happening and observing will want to see positive signs from the President.

“I haven’t seen any definite signs yet, I want to see the size of the government cut down. I don’t want you to change and replace. I want you to cut the size of the government. It is not about changing individuals and replacing ministers with another. It is not about reshuffle, it is about significantly slimming down the government. Let’s not divert the argument to whether an individual should be changed or not.”