This government is sick, the size of the government doesn't even make sense – Senyo Hosi

Convener of the Individual Bondholders Forum (IBF), Senyo Hosi has reiterated the need for government to have a critical look at its size in the midst of current economic crisis.

Speaking to Joy News on the News File programme, Mr. Hosi argued that the large size of government does not make sense and needs to be downsized.

“This government is sick, the size of the government doesn't even make sense,” the former CEO of the Ghana Chamber of Bulk Oil Distributors (CBOD) said.

Since Ghana’s economic crisis heightened in 2022, there have been several complaints about the size of government.

In various proposals, economists and finance experts have recommended that government downsizes.

Some also proposed that government needs to review some of its flagship projects including the Free Senior High School (Free SHS) programme.

Commenting on the Free SHS programme, Senyo Hosi today shared that while it is a very good initiative, it needs to be well structured.

“The Free SHS is a great project, it's not just being structured,” he said on the programme that is faced with several challenges.

On the proposed Government Domestic Debt Exchange programme, Senyo Hosi argued that it is going to lead to lack of trust in the financial sector.

According to him, that will be catastrophic for the sector.

“If today everyone gets scared of putting their monies in the bank, the financial sector will crush,” Senyo Hosi added.

The Convener of the Individual Bondholders Forum has been very vocal these past weeks making a case for affected investors whose investments will suffer if government goes ahead with the Debt Exchange Programme in its current state.

During the week, the Finance Minister met with stakeholders and has set up a Technical Committee to come up with solutions to address the grievances of investors.