Former Finance Minister, Mr Seth Terkper, has attributed the current economic challenges to the government’s inability to maintain budgetary buffers established by the previous administration.
Speaking at the launch of “For the Records” campaign book that chronicles the developmental strides of the National Democratic Congress (NDC) in the Anyaa-Sowutuom constituency, Terkper called for accountability in handling the country’s finances.
The event, held in Accra, was graced by members of the NDC, including local executives and supporters. The book, authored by Raphael Apetorgbor, the Deputy Communications Officer of the constituency, outlines key achievements under the NDC and serves as a record-keeping document for local development initiatives.
In his address, Mr Terkper underscored the importance of transparency and effective management in governance.
He criticized the misuse of COVID-19 relief funds, totaling over $6 billion, received from development partners.
“The country faced significant challenges during COVID-19, but these were compounded by the erosion of financial safeguards built during our tenure. These buffers were meant to absorb external shocks, as we had learned from the global financial crisis. Instead, the current administration squandered them, leaving the economy vulnerable,” he said.
The former Finance Minister pointed to the three operational oil fields that could have been leveraged to bolster economic stability, adding that the government’s handling of resources had left citizens to bear the brunt of economic hardship.
“COVID-19 is not an excuse for poor management. While it was a global crisis, the government had enough resources, including significant external support, to mitigate its impact. Mismanagement, not the pandemic, is to blame for the economic collapse,” he asserted.
He encouraged NDC members to use the newly launched book as a tool to showcase the party’s achievements and counter misinformation.
“This record provides evidence of what we accomplished using public funds. It’s vital for members to be armed with facts when engaging with the electorate, especially as we combat narratives that downplay our contributions,” he said.
Mr Emmanuel Nii Ashie Moore, Greater Accra Regional Chairman of the NDC highlighted the importance of truth and unity within the party.
He called on NDC members and the broader Ghanaian populace to rally behind the party, assuring that all promises in the NDC’s manifesto would be fulfilled if they were returned to power.
Mr Apetorgbor, in explaining his motivation for writing “For the Records,” expressed concern over the misinformation surrounding the NDC’s projects in the Anyaa Sowutuom constituency.
He feared that without factual counter-narratives, such misinformation might gain traction.
“This publication is more than just a collection of photographs and writings; it is a comprehensive record of our achievements,” he stated.
Mr Apetorgbor emphasized that the evidence presented in the 30-page book stands in stark contrast to the claims made by the New Patriotic Party (NPP), showcasing the significant contributions of the previous NDC government.