Former Finance Minister Seth Terkper taken on Information minister Kojo Oppong Nkrumah for suggesting that the difficulties the Ghanaian economy faced from 2014 and 2016 were caused by the then John Mahama led administration.
Seth Terkper who ran the economy for the period in question, said the suggestion by the Information minister demonstrated his serious lack of appreciation of the Ghanaian economy while in opposition.
Kojo Oppong is quoted by CitiNewsroom to have said the circumstances that forced the erstwhile John Mahama administration to go under an International Monetary Fund (IMF) program were not as a result of a global crisis but local economic crisis that was caused by the managers of the economy.
The former Finance minister however disagrees.
In a series of tweets, Seth Terkper said the Information minister failed to appreciate the impact the decade long Global Financial Crisis from 2008 had on the Ghanaian economy.
He also pointed to the 70 percent drop in crude oil prices from US$100 to US$30 per barrel and the disruption in gas supply from Nigeria for two and half years which led to a power crisis as further evidence that the shock the economy suffered at the time were from external sources.
“Why did SSA, led by South Africa, Nigeria, etc go into recession from 2014+ and what is it that made Ghana escape it?” Seth Tekper queried.
Source: Sena Nombo/Radiogoldlive.com
