An Economist and Finance Lecturer at the University of Ghana, Professor Godfred Bokpin has reiterated calls for President Akufo-Addo to reduce the size of his government.
Speaking in an interview 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 also stated the need for government to merge some of the ministries, adding that some of the ministers are been idle in their respective ministries.
According to him, ex-gratia for the state officials must be suspended until 2040 in this regard.
“.. 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 comment comes in the wake of government announcing some amendments to the terms of the domestic exchange programme.
Individual bondholders’ have now been included in the domestic debt exchange programme as the Government of Ghana has announced the further extension of the expiration date of its Domestic Debt Exchange to January 16, 2023.
Individual investors were initially not part of the domestic debt restructuring, but it appears the exemption of pension funds from the programme has triggered that.
Reacting to this, he described the government’s decision as unfortunate.
According to him, if the last instalment for Ghanaians who work hard, make savings over the years, and sacrificed their comfort for a better future is in 2038 then specific governance reforms must be initiated.
This, he explained is because it is too expensive governing the country.
Prof Bokpin insisted that the measures to achieve debt sustainability cannot be disproportionately loaded on creditors who invested in government bonds.
He further suggested that government initiates productivity enhancement reforms that allow for the guarantee of sustainable public finance.
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