Pentecostal And Charismatic Churches Tell Akufo-Addo To “Cut Down on Expenditure To Build Confidence”

• Nana Akufo-Addo has been advised to cut down the size of his government and expenditure immediately
• The Ghana Pentecostal and Charismatic Council (GPCC) said in a statement issued on Thursday, February 9, 2023, that a downsized government would make people trust in the ongoing process to bring the economy back to life
• The contents of the statement by the GPCC are similar to one released by the Ghana Catholic Bishops Conference

The association of charismatic and pentecostal churches in Ghana has advised president Nana Akufo-Addo to regain the trust of the Ghanaian public by reducing the size of his appointees.

The Ghana Pentecostal and Charismatic Council (GPCC) is convinced that an immediate reduction in the size of his government will demonstrate his commitment to dealing with the current economic crisis.

“From the Council’s perspective, it is important that the Government demonstrates a strong sense of burden-sharing to encourage key bondholders to fully accept the exchange voluntarily,” the Council said in a statement that also contains other nuggets of valuable advice for the president.

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The GPCC also told the president in the statement issued on Thursday, February 9, 2023, that this is critical to encourage buy-in from the general public as he rolls out a raft of measures to deal with the debilitating economic crisis.

The Council cautioned the president and the finance minister Ken Ofori-Atta against destroying the entire financial sector with the Domestic Debt Exchange Programme (DDEP).

“The Council acknowledges the setting up of the financial sector stability fund, as a measure to provide support to the financial sector, but the Council expects to see a clear demonstration that the facility is fully funded for implementation, in order to provide full assurance to the financial sector and the banking community," the statement signed by Apostle Eric Nyamekye stressed.

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In January, the Ghana Catholic Bishops Conference made a similar call to the president.

The bishops told the government to come up with interventions that would support, rather than worsen, the plight of Ghanaians as the economic challenges bite.

Finance expert projects grim outlook for Ghana in 2023

Meanwhile, YEN.com.gh has reported in a separate story that an experienced finance analyst has said Ghana could face worse economic times in 2023 despite assurances by the government that things will get better.

Haruna Alhassan of the Centre for Social Justice has said international and domestic factors all point to a tough 2023 for Ghana.

Alhassan said the domestic debt exchange programme, for instance, would adversely affect firms and result in job losses; also food inflation will persist in 2023.

Source: YEN.com.gh