Professor Godfred Bokpin, an economist and lecturer in finance at the University of Ghana, has renewed calls for President Akufo-Addo to scale back his administration.
On Joy FM’s Super Morning Show on Friday, he asked the President to resign if he can not manage the country with 40 ministers.
“As a matter of urgency, a reduction in the size of ministers…if our President cannot govern with less than 40 ministers and the other reforms, he should resign and give Ghana a chance,” he said.
He added that some ministries should be combined by the government and that some ministers have been inactive in their respective ministries.
In this sense, he contends that ex-gratia payments to state officials must be suspended until 2040.
“.. with the number of ministers and associated calls, State Owned Enterprises, new agencies being created, some of them are actually not doing anything but their lifestyles are loaded on the public purse.”
This statement follows the government’s announcement of some changes to the rules governing the domestic exchange program.
As a result of the Ghanaian government’s announcement that the domestic debt exchange program’s expiration date will now be January 16, 2023, individual bondholders are now a part of it.
Initial domestic debt restructuring did not include individual investors, but it appears that this has changed as a result of the exclusion of pension funds from the program.
In response, he called the government’s choice disappointing.
He contends that particular governance reforms must be implemented if 2038 is the year that Ghanaians who have worked hard, saved money throughout the years, and forgone their comfort in favor of a better future receive their final payment.
Prof. Bokpin argued that the methods to achieve debt sustainability cannot unfairly burden investors in government bonds.
He also advocated for the government to start measures that would assure sustainable public finance while also enhancing productivity.