Amid renewed scrutiny of Ghana’s recent economic difficulties, Member of Parliament for Atiwa East and former Deputy Finance Minister, Abena Osei Asare, has urged the public to reassess the record of former Finance Minister Ken Ofori-Atta through a broader and more balanced lens.
Speaking on Adom TV’s Badwam, she argued that much of the criticism directed at Mr Ofori-Atta fails to distinguish between Ghana’s economic performance before and after the COVID-19 pandemic, a distinction she believes is critical to any fair evaluation.
According to Madam Osei Asare, Ghana’s economy showed clear signs of stability and growth during the early years of Mr Ofori-Atta’s tenure at the Finance Ministry, particularly between 2017 and 2020.
She noted that during that period, the country consistently recorded economic growth rates of around seven percent, maintained single-digit inflation, and experienced relative stability of the cedi against major foreign currencies—conditions that fostered confidence among businesses and investors.
“From 2017 prior to 2020, the numbers were good. Our growth was a minimum of about seven percent, we had single-digit inflation, and our currency compared to other foreign currencies was stable,” she said.
“There was certainty in the business environment until COVID hit us and things didn’t go the way we expected.”
Madam Osei Asare stressed that the sharp downturn that followed should be understood within the context of a global economic shock, rather than as the result of Ghana-specific policy failures.
“So far, from the time we took over until COVID, we did a very good job,” she said. “He did a very good job as Finance Minister. We went into a global crisis. It was not just Ghana.”
To reinforce her argument, she pointed out that even some of the world’s most advanced economies are still struggling to fully recover from the effects of the pandemic several years on.
“As of now, the UK is yet to come back to the economic settings they were in before COVID,” she observed.
Turning to the issue of leadership changes at the Finance Ministry, the Atiwa East MP said the eventual reshuffle that saw Mr Ofori-Atta leave office should not be interpreted as a rejection of his earlier performance.
She explained that former President Nana Addo Dankwa Akufo-Addo exercised his discretion appropriately when he later appointed Dr Amin Adam to take over the role.
“So he did his best, and when it was time for former President Akufo-Addo to change him, he did,” she said. “Dr Amin Adam also came in to do his part until the NDC took over.”
Madam Osei Asare’s comments come against the backdrop of ongoing public debate over Mr Ofori-Atta’s legacy, with critics increasingly linking Ghana’s recent economic hardships to decisions taken during his tenure.
However, she maintained that history must separate pre-pandemic economic achievements from the extraordinary challenges triggered by COVID-19 and its global aftershocks.
In her view, Mr Ofori-Atta’s time as Finance Minister should be remembered for driving growth, stabilising key macroeconomic indicators, and creating a predictable business environment—before unprecedented global disruptions altered Ghana’s economic path.
