In Terms of Strategies for Managing the Ghanaian
Economy, How Different is the Akufo-Addo
Government from its Predecessors?
Dr. Michael J.K. Bokor
Folks, those of us
who have been criticizing the political agenda
of Akufo-Addo all these years won't fold up just
because he won Election 2016, implying that the
voters saw him as a redeemer. We will still dig
in because enough exists for us to wonder what
exactly he has up his sleeves to give Ghana what
it hasn't seen or had before.
office, the Akufo-Addo government has been
fixated on painting its immediate predecessor in
the blackest of all colours just as it had been
doing until the quirk of circumstance changed to
We heard all the
bombastic noise made by Dr. Mahamudu Borrowmia
and why the NPP considered him as a "miracle" to
ditch the NDC. It all happened to put Team
Akufo-Addo in power.
Something drastically different to take Ghana
out of the woods. But what has happened thus far
doesn't confirm the boasts that Team Akufo-Addo
has anything new to 'redeem" Ghana.
A cursory look at its
performance (as far as managing the economy is
concerned) reveals a saddening spectacle of
a. Borrowing from the
very institutions that they had condemned the
Mahama administration of snuggling to for
b. Eating back their own vomit
as far as dealings with the World Bank and the
IMF are concerned. They had vowed to abrogate
everything with such institutions only to turn
round to do otherwise;
Rushing to China for huge loans that haven't
materialized and won't do so because the Chinese
authorities aren't willing to be toyed with (The
much-hyped billions of Dollars from China are
now elusive. None in government is talking about
it any more, even though much of Team
Akufo-Addo's agenda is hinged on such expected
largesse. China is no father Christmas, as it
proved to the Mills government, the Mahama one,
and this Akufo-Addo one. So, what is new?);
d. Government's own policies speak volumes.
Nothing new. The well-trodden path is obvious:
--- Borrowing from the banks to cushion
--- issuing bonds (even
in disgrace, as is clear in the 2.25 billion
Dollar Kenbond scam);
--- squeezing the
commercial banks for leverage, etc.
Borrowing Dollars from the banking sector to
inject into the national economy with the view
to artificially "taming" the US Dollar so it
doesn't drag the Ghanaian Cedi on a rough road.
it has worked, as we are being told now.
No factory is being supported; the mining sector
is fast declining; the industrial sector remains
doomed; and the private sector is still sagging
onto its knees despite the huge promises made at
the first reading of the budget to uplift it (If
you doubt it, go and ask the Abossey Okai spare
parts dealers and importers at the ports to whom
the so-called tax rebates have ended up being
the noose staring at them).
And there are many
more. No development project going on to prove
to the people that this kind of government has
their interests at heart. it's all about
self-gratification and empty threats to jail
political opponents on their minds as saboteurs.
No country can be developed this way.
Just doing anything
in desperation to appear to be solving problems
where, indeed, the opposite is clear: that the
government is bereft of ideas to do better than
We are even not
talking about management of the country's
natural and human resources. What new policies
has Team Akufo-Addo put in place?
(Don't refer me to
the fight against "galamsey" because Akufo-Addo
has his own credibility problems rooted therein.
You may care to find out why the illiterate
Wontumi would hate ex-President Mahama to the
marrow for taking drastic action against his
illegal mining activities or why he hasn’t said
a single word when Akufo-Addo went further to
clamp down on what he would have been profiting
from. No word from Wontumi on Akufo-Addo’s
clamping down on “galamsey”.
Yet, there is
jubilation in the NPP camp at the action taken
against Ibrahim Mahama in his pursuit of the
bauxite deposits in the Nyinahin area, which he
is duly entitled to by virtue of the legal and
contractual arrangements). A government of this
sort that narrowly functions on the basis of
vindictiveness won’t inspire patriotism.
Neither should you talk about agriculture
because Team Akufo-Addo hasn't added any value
to that sector. Or the promise of "one village,
one dame or one district one factory" These are
tactically deceptive ploys.). What else?
Let's not waste
words. I just want someone close to Team
Akufo-Addo to tell me what exactly the
government has initiated to solve the economic
problems that differs from what we have already
been exposed to. Then, we can redefine how we
assess its performance. For now, I don't see
anything different. What I see is a different
group of con-artists (confidence tricksters)
manipulating public discourse and national
resources to fatten themselves. Too bad for
Not until anything
emerges to prove that this Akufo-Addo government
is doing things in a manner that we haven't seen
before, I will remain pessimistic that it has
bitten more than it can chew.
In truth, then, I
want to be given evidence of what it has
introduced to make the difference between it and
its predecessors. Then, I will redefine my
approach to commenting on its performance. Is
there anything that anybody has to offer? I am
I shall return…
• Join me on
Facebook at: http://www.facebook.com/mjkbokor