Isaac Adongo, the Deputy Ranking Member on the Finance Committee of Parliament, has heavily fired President Nana Addo Dankwa Akufo-Addo over his recent comments criticizing international rating agencies.
President Akufo-Addo expressed his displeasure with the hasty downgrades made by rating agencies during the 30th anniversary celebration of the African Export-Import Bank in Accra. He claimed that they are harmful to developing countries like Ghana and have contributed to the country’s current economic difficulties.
Isaac Adongo, in response to the President’s remarks, accused Nana Addo Dankwa Akufo-Addo of being dishonest.
According to Adongo, these evaluations are a crucial component of the accepted international financial systems. He emphasized that Ghana had profited by effectively gaining access to the capital markets and attracting sizeable investments in the past, when the rating agencies had given the country good ratings.
“You see the dishonesty? When the rating agencies were rating us high and we were going to the capital markets and showing them the rating of Ghana and collecting the $3 billion, were we in bed with them to deceive the investors? What have the rating agencies said that is not true?
“They should tell that man [Akufo-Addo] that rating is not a diplomatic maneuver, he should stop going around his peers and telling them stories. The rating agencies and the capital market predates his own life and it is part of the global financial system that has come to be accepted. He has been a beneficiary of it.”
Isaac Adongo
Bawumia Dared To Debate On Economy
Isaac Adongo claimed that the prospective New Patriotic Party (NPP) Presidential candidate, Dr. Mahamudu Bawumia had made no contributions during his six years in power.
The National Democratic Congress (NDC) MP claimed that the Vice President had switched from discussing the economy to singing about digitization, whose foundation was set by the NDC administration.
“We built the biggest capacity data center to ensure that the Ghana gov project which was to computerize government service had a place for data safety and for data storage. Without this infrastructure, you can only dream about digitalisation, Dr Bawumia.
“Now economy has whipped you, you’ve moved to Yahoo and say you are doing digitalisation. He should tell us his track record in building infrastructure for digitalisation.”
Isaac Adongo
The Vice President was then challenged to a public discussion on the state of the economy by the Ranking Member of the Parliamentary Finance Committee. The days when Dr. Bawumia’s track record was unknown and he was given the benefit of the doubt, according to the NDC lawmaker, are long gone.
“He has a record and anytime he is ready, wake me up from sleep. He can choose his own venue; he can choose his own moderator. In fact, he can come with his own books for reference but just wake me up from sleep and say Bawumia says he wants to debate his vision and his knowledge about the economy and digitalization and I will meet him.
“We will respond to him for every unguarded and lying statement he will make. If NPP decides to choose him as their flagbearer, that’s their problem but he must be factual. He must not take the people of Ghana for granted.”
Isaac Adongo
