“The current economic difficulties should be a call for all of us to carefully examine the economy and implement some significant adjustments. The time has come to reduce wasteful spending and direct resources to economically productive areas to improve the quality of life of the people,”
In the debt restructuring program, he said “The level of our debt has become unsustainable forcing the government to roll out a domestic debt exchange program that aims to restructure the nation’s debt and ensure some fiscal space for the country to operate”.
“It is sad to see that public consultation was not carried out before the program started. Now the nation is in a tense atmosphere even though the government has announced the end of the program. I want to ask the government to show high transparency and honesty in this difficult time to gain the trust and confidence of the people general..
Otumfuor further said, “The government must be more accommodating and approach those who may be against politics, the country’s most important interests, and we must be together to prevent economic collapse. No one can pretend not to see the difficult times we are in. But in at the same time, I want to encourage all of us to stay hopeful.
“When we move to negotiations with external creditors, I ask the government to combine the best brains with the necessary expertise from all political perspectives to give the best proposal so that whatever decision the country chooses will be the responsibility of everyone.”.
He believes this will create certainty and will foster trust between citizens and the government.