Executive Director of The 1957 Group, David Zekpah, has commended Hon. Kwaku Kwarteng, MP for Obuasi West and spokesperson on the Economy Committee, for his forthright criticism of his own political party’s leadership in managing the economy.
Mr. Zekpah highlighted Kwarteng’s analysis, which attributes Ghana’s economic hardships to prolonged mismanagement and flawed political decisions.
“Kwarteng’s perspective on our economic struggles, both nationally and at the household level, is a clear reflection of the mismanagement and misguided decisions that have plagued our governance for decades,” Zekpah said.
“This is the type of critical thinking we need, irrespective of our position in or out of government.”
In Mr. Zekpah’s opinion, Hon. Kwarteng compared the nation’s economic operations to a Ponzi scheme, emphasizing that continuous overspending and borrowing since independence have created an unsustainable financial cycle.
The current economic challenges, according to Mr. Kwarteng, are due to lenders’ growing reluctance to extend further credit.
Kwarteng urged the New Patriotic Party (NPP) to demonstrate visionary leadership to address the country’s economic issues and break the eight-year political cycle.
He stressed the necessity for the NPP to recognize and rectify the historical and ongoing failures of the political class, advocating for comprehensive reforms to correct decades of mismanagement.
Mr. Zekpah was speaking with Ahotor 92.3fm midday news in Accra.
Mr. Zekpah praised Kwarteng’s boldness in addressing these issues while his party, the NPP, is in power.
“For Mr. Kwarteng to come forward at a time when our economy is struggling, acknowledging that we are running our economy like a Ponzi scheme, is commendable. It is a strong and necessary statement,” Zekpah remarked.
However, Mr. Zekpah expressed concern over statements from some New Patriotic Party (NPP) members suggesting that the Party would win the upcoming elections through strategic maneuvers rather than through the democratic process.
This mindset, Mr. Zekpah condemned, stressing that any attempts to subvert the will of the voters would be unacceptable.
Mr. Zekpah concluded by noting that Kwarteng’s observations on excessive borrowing and spending align with what many government critics have been saying.
“Our debt has soared beyond sustainable levels, often funding non-productive expenditures. Kwarteng’s honesty is the beginning of much-needed transparency and reforms,” he added.
Godfred Sey/Ahotoronline.com
