The National Communication Team Member and the 1st Vice Chairman of Asokwa Constituency of the ruling New Patriotic Party Edmund Kyei has urged Ghanaian Business mogul Dr. Kofi Amoah to view the economy from an intellectual perspective and desist from painting President Akuffo Addo’s
Dr. Kofi Amoah has described Ghana’s economy as a real definition of a Ponzi scheme owing to how the nation acquires loans, what the loans are used for and how the debts that accrue thereof are serviced.
His statement was in defense of his position on the need for Ghana to stop borrowing and, according to him, Ghana has for a long time missed the opportunity of activating the economic multiply effect in borrowing.
Commenting on Dr. Kofi Amoah statement in an interview Ghtimesonline.com, Edmund Kyei expressed worry about how economists like Dr. Kofi Amoah were silent when former President John Dramani’s government borrowed money and spent it on buying cars, houses for ladies as well as tripping with them.
According to Edmund Kyei, President Akuffo Addo’s government thinks about the ordinary Ghanaian and has initiated and take decisions that have a direct influence on the livelihood of the citizenry but to eventually solve an endemic crisis in our environment.
“Many analysts will sit at the comfort of their homes and churn out flawed arguments with no sound economic basis. How can you describe a country’s economy as “ponzy” whilst the realities of our economic challenges are external, and a global issue”? Edmund Kyei explained
“We all witnessed in this country how some governments led by some party borrowed monies and spent it on buying cars, houses for ladies as well as tripping with them. These were issues economists were required to react to but were never their priority”.
The Asokwa Constituency NPP 1st Vice Chairman Edmund Kyei stated emphatically that some analysts do their analysis solely on their personal interest at heart or better still based on personal vendetta because when they were given the opportunity to serve, they failed to normalize the sector in which they were entrusted with.
“Ghanaians witnessed the illegality their own financial institution went through due to lack of proper management’s structures and models but these so-called analysts without recourse to the benefits the ordinary people may be getting constantly throw empty unfounded analyses out there,” he said
What amazes me is that Mr. Kofi Amoah made a statement by describing the flyovers as concrete with debt hanging, without considering the motive for building flyovers, flyovers are built to ease traffic but this traffic most times deprives people of great opportunities by delaying them”.
Edmund Kyei added, “people try to paint sitting government black because these contracts were not awarded to their party affiliates or close pals because he or she is not directly benefiting from it”.
He, therefore, charged Ghanaians not to be deceived by analysts who are quick to judge or speak negatively about the government.
“We know globally we are in difficult times but let us keep on praying for the government because this government is working tirelessly to bring back our economy to track. Let us think as intellects and support this government to accomplish the vision he carries for us as a Nation”.