Kwaku Kwarteng, the Chairman of the Finance Committee of Parliament, and Member of parliament for Obuasi West in the Ashanti region, has disagreed with government communicators that Ghana’s economic challenges are largely to blame on global events such as the COVID-19 pandemic and the Russia-Ukraine war.
The Obuasi West MP lawmaker attributed Ghana’s economic quagmire to the reckless public spending and economic mismanagement of previous and present governments.
The Civil engineer, economist and politician dismissed the excuse that without these global crises, Ghana would have been spared the financial downturn it is currently experiencing.
He said, “I am not with the school of thought that we were not going to experience a financial crisis but for COVID-19 and the Russia-Ukraine War.”
“The country was always going to have some financial crisis. It might have been delayed a little bit if COVID-19 and the Russia-Ukraine war had not happened but the fact remains that with the path we were walking, we were definitely going to get here.”
Mr. Kwarteng, therefore, highlighted the urgent need for a shift in mindset towards fiscal responsibility to avoid Ghana from descending into further economic catastrophe.
He added that the ineffectiveness of existing laws and institutions in addressing economic mismanagement, emphasizing that without a collective commitment to change, these measures alone are insufficient to make an impact toward recovery.
“We have the laws and we’ve set up institutions that should help us deal with these, but no amount of legislation, no amount of institutional arrangements can stop a people determined to destroy themselves.”
Source: Kobina Darlington/peacefmonline.com
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Whether he was in government or not, to begin to see things in the right perspective and be public about it even when it can cost you represents a shift in the right direction and this is what our country needs to progress. We need to urgently depart from stupidIly and vehemently defending our foIIy and lies for a mere petty political interests if we have any good intentions for our country.
@James Annan & Reggieluvs, I hope you also agree with what Kwaku said about the past government as well. Anyway, Kwaku Kwarteng was the deputy finance minister for 4 years so he is also part of the economic mess being created by governments.
He is calling a spade a spade and not being partisan. We must love Ghana first before our political affiliation else we are all doomed
So far Kwaku Kwarteng is the only person with integrity within the NPP that I am seeing for the past 7 years in power. He is seeing things real as it is. Thanks Kwaku