Veteran broadcaster, Kwasi Kyei Darkwah, popularly known as KKD, is of the view Ken Ofori-Atta accepted the appointment of Finance Minister by President Akufo-Addo over the ill-performance of his financial institution, Data Bank.
He noted that should Data Bank have been well off, Ghana would never have recorded Mr Ofori-Atta as its Finance Minister under the administration of President Akufo-Addo.
Speaking in an interview on Power FM on Wednesday, July 26, he said: “When Ofori-Atta was operating Data Bank, should Data Bank have been faring well and excelling, he would not have needed a government position.”
“But after he assumed a governmental position, now he is leading us on a loan taking spree and this is now killing us.
Due to the current economic crisis facing Ghana, citizens called on the President to fire the Finance Minister. But the president failed to do so, arguing that Mr Ofori-Atta is competent for the job.
In 2018, the Minority in Parliament demanded the withdrawal of the appointment of Databank as advisors to the Finance Ministry and the Bank of Ghana in the issuance of public debt transactions.
Ghana’s public debt stats
Data from the Bank of Ghana (BoG) reveals a significant rise in the country’s public debt stock from GH¢392.2 billion to GH¢569.3 billion within 13 months.
As of March 2022, Ghana’s total public debt stood at GH¢392.2billion, representing 6.43 per cent of the Gross Domestic Product (GDP) but as of April 2023, the figure rose to GH¢569.3 billion, representing 7.11 of the country’s GDP.
Per the report, the country’s external debt exceeds its domestic debt. As of April 2023, the external debt stock recorded was GH¢321.4 as against GH¢247.9 domestic debt.