A former finance Minister Dr Kwesi Botchwey has rejected claims that the Mahama administration is bereft of ideas to fix the tottering economy.

Dr Botchwey, who was finance Minister for close to 15 years, told Accra-based Radio XYZ on Thursday that the intention by the Government to organise a national economic forum next week has nothing to do with the administration’s incompetence.

Critics of the forum have imputed that the forum is to help President Mahama and his government steal fresh ideas from the opposition.

For instance Member of Parliament for Akwapim South, Osei Bonsu Amoah, said “ineptitude and incompetence" is the cause of the current state of Ghana's economy, adding that the National Economic Forum next week is aimed at soliciting views on the way out of the ‘self-imposed economic mess’.

However, Dr Botchwey says such cynicism lacks basis and justification.

“I don’t think that will be a fair comment,” he told RadoXYZ.

He said the government is merely reaching out to “achieve consensus, educate” and also “benefit from fresh ideas” about how to move the economy forward.

“That’s not necessarily an admission that the Government doesn’t know what to do,” he stressed.

He added that, “nobody knows everything, alright. So even those who know everything have an obligation to ensure that everybody else understands what they known. So no I don’t think it’s an admission that the Government is on its back and doesn’t know what to do at all.”

The President Mahama-backed National Economic Forum aimed at achieving consensus on policies, strategies and measures to accelerate Ghana's transition from a lower middle income nation to an upper middle income economy is set to come off next week at Akosombo.