American Professor Steve Hanke has landed yet another attack on Ghana’s Finance Minister, Ken Ofori-Atta.
Steve Hanke serves as a professor of Applied Economics at the Johns Hopkins University in Maryland in the United States of America.
A frequent critic of the current ruling government, he attacked Ofori-Atta over his constant quotation of the Bible to justify the government’s financially inexcusable actions.
Hanke was reacting to an article from the Economist which took stock of Ghana’s current precarious financial situation.
“Ken ofori-atta, Ghana’s finance minister, is fond of invoking scripture in speeches on the economy. Recently, as the country defaulted on its domestic debt, he found solace in the first book of Samuel saying “nothing will be lost, nothing will be missing.” Yet the Bible is a poor guide to macroeconomics. Holders of domestic bonds stand to lose a good chunk of money. Now foreign creditors are getting a buzz cut, too. On December 19th Ghana suspended interest payments to foreign creditors, in effect defaulting, pending talks,” the article wrote.
Hanke quoted the article and added his own admonition, writing: “Ghana’s Finance Minister Ofori-Atta justified defaulting on debt by quoting the Bible: “nothing will be lost, nothing will be missing.” The Bible is a poor guide for macroeconomics. It’s time for Ofori-Atta to stop bamboozling Ghanaians and get real,”
Hanke has constantly attacked the financial management of Ofori-Atta, particularly in relation to the depreciation of the cedi last year.
He has called, ad nauseam, for the establishment of a currency board as the only way to halt the depreciation of the cedi.
Ghana's Finance Minister Ofori-Atta justified defaulting on debt by quoting the Bible: "nothing will be lost, nothing will be missing." The Bible is a poor guide for macroeconomics. It’s time for Ofori-Atta to stop bamboozling Ghanaians and get real https://t.co/iY1Q1LTVVC
— Steve Hanke (@steve_hanke) January 2, 2023
Source: theGhanaianVoice.Com