Akufo-Addo has been reckless in the management of the economy – Apaak

Builsa South Member of Parliament Dr Clement Apaak has said President Nana Addo Dankwa Akufo-Addo has been reckless in the management of the economy.
He was reacting to the concerns Mr Akufo-Addo raised against credit rating agencies that downgraded Ghana.
President Akufo-Addo had described the downgrade as ‘reckless’. He said the downgrades exacerbated the challenges in African countries including Ghana.
Fitch Ratings, for instance, in April this year downgraded Ghana’s Long-Term Local-Currency (LTLC) Issuer Default Rating (IDR) to ‘RD’ from ‘CCC’.
President Akufo-Addo said at the 30th Annual Meeting of the Afreximbank on Sunday, June 18 that “the AU champion for African financial institutions and leader of a country that recently had to deal with one of the most difficult periods in his post-independent history, difficulties that were exacerbated by the reckless behaviour of rating agencies that engaged in pro-cyclical downgrades that shut Ghana out of the capital market and turned a liquidity crisis into a solvency crisis.”
Reacting to this in a tweet, Dr Apaak said “President Nana Addo Dankwa Akufo-Addo calling rating agencies reckless, really? Who has been most reckless as President of Ghana than the Mother Serpent of Corruption? [He] vex because he cannot borrow to fly and bath in the sky and to build his pet cathedral!”
You May Also Like
Sign up to The Daily Briefing
Stay informed with the most relevant stories shaping Ghana and the world, every morning and evening.
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy.
Laud Nartey is an online editor with current affair team at Media General, operators of TV3 Ghana, 3News.com and more. Email: Laud.Nartey@editors.3news.com