A former Deputy Minister for Information, Felix Kwakye Ofosu, has observed that the Akufo-Addo government has lost touch with the citizenry and their needs.

Speaking on Joy FM’s Midday, Mr Kwakye Ofosu indicated that the incumbent government has prioritised “cheap regio-political” praise over implementing policies that will resuscitate the economy

The government’s indifferent attitude, according to him, has created a huge gap between the rulers and the ruled.

“We have a President who has lost complete touch with reality. We also have the head of the Economic Management team who has completely ignored the terrible economic situation, the continuous nose-dive and depreciation of the cedi and our current junk rating status, the hardship and inflation and is rather hankering after cheap region-political scores.

“He is jumping from one church to the other confused about the religion he belongs to and does not appear to have the attitude to fix the management of the economy,” he told host Ernest Kojo Manu on Tuesday.

Mr Kwakye Ofosu's outburst comes after Standard and Poor’s (“S&P”) downgraded the country form from B-/B to CCC+/C, putting the country’s creditworthiness into junk status.

Already, former President John Mahama has reacted to the ratings by calling for a national dialogue.

https://www.myjoyonline.com/steep-depreciation-of-cedi-shows-mid-year-budget-review-failed-to-win-back-investor-confidence-mahama/

Siding with his former boss, Mr Kwakye Ofosu told President Akufo-Addo and his officials that the current economic crisis should have served as a wake-up call for them to steer the country on the right course.

He stressed that government should stop being arrogant and seek the needed assistance of experts to prevent the country from running into a ditch.

“We have a government that is stubborn, obstinate and totally arrogant of the very people they are governing. They will not listen to anything you tell them,” he insinuated.

Standard and Poor’s (“S&P”) Global Ratings on Friday August 5th, 2022 downgraded Ghana’s foreign and local currency credit ratings from ‘B-/B’ To ‘CCC+/C’ with a negative outlook.

According to S&P, the downgrade is due to intensifying financing and external pressures on the economy.

In arriving at its decision, the credit rating agency considered the lingering effects of the COVID-19 pandemic and the severe global shock of the Russian invasion of Ukraine on Ghana and the consequent fiscal and external imbalances; elevated gross financing needs in the face of International Capital Market hiatus; the limited commercial financing options and the credible steps taken by government to fast-track fiscal consolidation and the passage of key revenue bills.