Ken Ofori-Atta, Ghana’s finance minister, has been admonished by a Johns Hopkins professor, Steve Habne to manage the local economy realistically and stop using the Bible as his manual guide as far as the management of the economy is concerned.
In a tweet, he said, “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.”
This comes after Mr Ofori-Atta recently announced the suspension of payment on some external debts, including the nation’s Eurobonds. This is a temporary emergency measure, according to Mr. Ofori-Atta, to revive the faltering national economy.
“This suspension will not include the payments of our multilateral debt, new debts (whether multilateral or otherwise) contracted after 19th December 2022 or debts related to certain short-term trade facilities,” a statement issued on Monday, December 19 said.