Dr. Mark Assibey Yeboah, former Chairman of Parliament’s Finance Committee, has dismissed former President John Dramani Mahama’s promise to reinstate collapsed banks as unrealistic.
Mahama, the 2024 NDC flagbearer, vowed to revive some banks and financial institutions after a comprehensive assessment.
He emphasized the importance of this initiative in stabilizing the financial sector and restoring public confidence.
Mahama also expressed concern over Ghana’s escalating unemployment rate, urging Ghanaians to support him in the 2024 elections.
Dr. Assibey Yeboah labeled Mahama’s pledge a “joke,” questioning its practicality given the challenges that prompted financial sector reforms.
The banking sector clean-up, Assibey Yeboah argued, was necessary to stabilize the sector, which was marred by mismanagement and insolvency.
He criticized Mahama’s attempt to politicize the clean-up, emphasizing that protecting depositors’ funds and restoring confidence was essential.
Assibey Yeboah noted that reinstating insolvent banks would compromise the financial system’s gains and reward poor management practices.
Mahama’s promise, Assibey Yeboah claimed, lacked credibility, given his administration’s failure to address weaknesses in the financial system.
Assibey Yeboah concluded that Mahama’s vow was a populist appeal aimed at winning votes ahead of the 2024 elections.
