Franklin Cudjoe, Founding President and Chief Executive Officer (CEO) of IMANI Centre for Policy and Education, has passed his verdict on the vetting performance of Deputy Finance Minister-Designate Thomas Nyarko Ampem, highlighting both strengths and “missed opportunities” by the nominee.
The vetting of Deputy Finance Minister-Designate Thomas Nyarko Ampem has sparked discussions among economic analysts and political commentators, who have noted the nominee as a capable candidate with room for more.
Cudjoe acknowledged that Nyarko Ampem possesses the necessary qualifications for the role, suggesting that his credentials make him fit for the position.
“There’s something that must distinguish one before becoming a Deputy Minister of a portfolio such as the Ministry of Finance and I think the gentleman has the marbles”
Franklin Cudjoe, Founding President and Chief Executive Officer (CEO) of IMANI Centre for Policy and Education
However, he expressed reservations about the depth of the nominee’s responses, particularly concerning critical economic policies.
According to Cudjoe, the Ministry of Finance requires strong leadership, especially from those in supporting roles like the deputy minister.
He expected Nyarko Ampem to “fill in the gaps” left by his substantive minister, Dr. Cassiel Ato Forson, during vetting.
One key area of concern was the nominee’s inability to provide detailed insights into the government’s proposed GH¢10 billion infrastructure fund and the economic modeling behind the 24-hour economy policy.
“We need to know what sectors will be prioritized, why others won’t, and how much it should cost us,” Cudjoe stated.
He emphasized that a nominee for the Finance Ministry should go beyond “reading the party manifesto” and demonstrate a deeper understanding of economic frameworks.
A Missed Opportunity
Cudjoe’s disappointment stemmed from Nyarko Ampem’s approach to key economic questions.
He noted that when asked about the 24-hour economy, the nominee had the opportunity to delve into the strategy behind it but instead provided general answers.
This left gaps in understanding how the policy would be implemented across various sectors.
Another critical issue was the GH¢10 billion infrastructure fund, which Cudjoe described as a “curious” proposal, especially in light of Ghana’s ongoing debt crisis.
He expected the nominee to clarify how the government would raise such funds without worsening the country’s debt situation.
“There were no specifics beyond the usual talk of pursuing aggressive cost-cutting,” he remarked.
While acknowledging that cost-cutting is a necessary fiscal policy, he argued that it should be accompanied by concrete steps rather than vague assurances.
Cudjoe further suggested that the government consolidate agencies like the National Entrepreneurship and Innovation Programme (NEIP), the Youth Employment Agency (YEA), and the Ghana Enterprises Agency (GEA) into a single entity.
He believes such streamlining could enhance efficiency and save costs.
Bokpin’s Perspective
Echoing Cudjoe’s concerns, economist and Professor of Finance Godfred A. Bokpin noted that Nyarko Ampem’s responses lacked assertiveness.
However, he also pointed out that the nominee might have been following a strategic approach, considering the criticisms from the first phase of ministerial vettings.
“It looks like there was a deliberate effort to manage the process without unsettling the committee,” Bokpin observed. He suggested that the nominee may have been cautious in his responses to secure parliamentary approval.
However, Bokpin insisted that a deputy finance minister should not simply echo the substantive minister’s views but should have a mind of their own.
He argued that if the role merely involved repeating what the finance minister said, then the position itself could be scratched off.
“At this stage, the deputy minister is not an outsider. He has received briefings and studied the party’s manifesto, so more was expected from him”
Professor Godfred A. Bokpin, Economist and Professor of Finance
Despite these reservations, Bokpin advised against judging Nyarko Ampem solely on his vetting performance.
He acknowledged that the nominee’s real impact would be seen once he assumes office.
Vetting Excerpts
During his vetting, Thomas Nyarko Ampem addressed several key policy areas such as the free Senior High School (SHS) where he reaffirmed that the government has no intention of canceling the policy.
“President Mahama has assured Ghanaians that Free SHS will not be canceled, and I’ll support my minister in ensuring adequate funding for education,” he stated.
On University admission fees, he confirmed that the government will cover free admission fees for students entering public universities.
He also emphasized that cost-cutting would be a priority with regards to government expenditure, noting that reducing the number of ministers was already a step in the right direction.
Furthermore, Ampem acknowledged that some tax exemptions under the One District, One Factory (1D1F) policy were excessive and assured that the NDC government would refine tax exemption policies altogether to ensure fairness.
There was a pledge by the nominee that the government would work towards bringing inflation down to 8% through strategic economic interventions by the nominee.
Speaking on the Domestic Debt Exchange Programme (DDEP), he called for a non-partisan approach to debt restructuring, emphasizing that focusing on market stability was more important than political debates.
He also urged Ghanaians to plan their economic strategies without relying on external aid, citing the USAID aid withdrawal as a wake-up call for self-sufficiency.
Ampem’s Vetting versus Ato Forson’s
A comparison of the vetting performances of Nyarko Ampem and his substantive minister, Dr. Cassiel Ato Forson, reveals key differences in how they addressed economic concerns.
The depth of responses from Ato Forson provided detailed policy insights, demonstrating a command of fiscal issues and debt management strategies. Ato Forson was direct and confident, challenging existing economic frameworks and proposing alternatives.
In contrast, Nyarko Ampem’s responses were broader and less specific, leaving room for unanswered questions on key economic policies. He appeared more reserved, possibly as a strategic move to avoid controversy during the vetting process.
Whereas Ato Forson tackled government debt, inflation, and fiscal responsibility head-on, offering structured plans for economic recovery, Nyarko Ampem, while touching on similar themes, did not provide as much clarity on implementation strategies.
While both nominees demonstrated competence, Ato Forson’s experience and policy depth made his vetting performance more impactful. Nyarko Ampem, on the other hand, may need to prove his leadership in office rather than through his vetting responses.
Thomas Nyarko Ampem
Thomas Nyarko Ampem is a seasoned economist and financial expert with extensive experience in public service and governance.
He holds a degree in Economics and Finance and has undergone professional training in public financial management.
He serves as a Member of Parliament, where he plays a key role in economic policy discussions, particularly in areas related to budgetary allocations, fiscal policy, and national revenue generation.
Nyarko Ampem has worked in both public and private financial institutions, contributing to policy formulation and economic strategy development.
He has been actively involved in youth employment initiatives, economic empowerment programs, and financial literacy campaigns aimed at strengthening Ghana’s economic foundations.
His nomination as Deputy Finance Minister reflects his background in economic policy and governance, positioning him as a crucial player in Ghana’s fiscal management strategy.
Despite his vetting having drawn mixed reactions due to a weaker articulation of economic policies and a more proactive approach to answering critical questions, as compared to Dr. Cassiel Ato Forson, he is still perceived as a competent and deserving candidate for the role.
Analysts like Franklin Cudjoe and Godfred Bokpin believe the nominee missed an opportunity to define his role beyond mere assistance to the finance minister.
However, others argue that his performance may have been part of a calculated strategy to secure approval without stirring controversy.
According to experts, Nyarko Ampem’s real test will come after he assumes office when his ability to implement policies will matter more than his responses during vetting.
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