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18.07.2014 Editorial

Finance Minister's Pranks

By Daily Guide
Finance Minister's Pranks
18.07.2014 LISTEN

Seth Terkper, Finance and Economic Planning Minister

Mr. Seth Terkper, Finance and Economic Planning Minister, is emitting ambivalent signals about the economy. Having avoided the propaganda which has fueled our journey to the dire destination we are today to the admiration of some Ghanaians, he has changed the hymn he sang then.

He must be succumbing to the Mahama Ayariga query for being too brusque and honest in his presentations about the state of the economy and making things rather heady for the propagandists.

So what has informed the abrupt change at a time when the effects of the mismanagement are biting more than before?

These are not times for the hymn being sung by the man who is being blamed for the economic woes we are immersed in by a section of his party people, although we demur.

In such testy times there is every need to calm tempers, especially when the hardships we are passing through are government-inflicted. That is not to state that lies as being savoured by the minister, should be the preferred option when he seeks approval for a supplementary budget from the legislature.

Turning to outright pranks in matters of the economy should not be taken lightly. Indeed, we have every reason to descend upon him and condemn his action as we live out the pangs of economic mismanagement of a government of which he is an integral part.

It is unacceptable when a glaring case of a declining economy is described otherwise by a man who should be the last person to do so.

Our economy is in crisis and anybody who thinks otherwise must be suffering a moral challenge: top officials who make lies a cornerstone of their occupation are inflicting serious injuries to themselves and regrettably the nation as a whole. Giving the economy a different colour aside the truth is uncanny and condemnable.

The issue of whether or not the country's economy is in crisis or suffering a temporary challenge is not a new subject. The last time it made landfall was when in his attempt to attack Dr. Mahamudu Bawumia's discourse on the economy, Fiifi Kwetey disagreed that the economy was in crisis, preferring to see it as suffering a challenge.

Semantic treatment of a dire situation such as the state of our economy sums up the desperation of those manning the country.

A country whose national currency is on a permanent decline against international convertible currencies is one in crisis.

A country whose government is unable to make statutory payments cannot be said to be in normal times.

A country which turns to depressing taxes in abortive bid to keep afloat is in crisis.

A country whose economy in spite of oil exports is shambles as we see today is in crisis.

We have seen the highest percentage rise yet in the price of petroleum products in post-independence Ghana.

A country whose indebtedness is pushing her to HIPC status is in crisis no matter how the Finance Minister and others describe her.

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