Mahama must reinstate collapse banks after winning power-Ricketts-Hagan

A former deputy finance minister the National Democratic Congress (NDC), Kweku Ricketts-Hagan has suggested all the collapsed banks could be revived.

He has therefore admonished former president John Dramani Mqahama to make that a priority should he win the 2020 presidential race.

The ruling New Patriotic Party he stated has collapsed universal banks, microfinance companies and other financial institutions without recourse to the impact on the economy.

He said this government and BoG have collapsed banks unnecessary with GHS 16 billions of tax payer’s money and still asking for more money with no ending in site. They have caused job losses, created ill-capitalized and insolvent banking system.”

He was speaking to Kwabena Agyapong on Rainbow Radio 87.5Fm stressing “we need to look at the implication and that is the massive job losses, the threats to the economy and the difficulties it has brought to other service providers. It was a terrible exercise and the NDC would done it differently.”

He said some of the banks should have been encouraged to come out of their universal banking status and turned into specialised banks.

“This government has created serious problems for the economy and my recommendation to John Mahama is to reverse some if these banks and reinstate them. This not an NDC manifesto, it is my own recommendation as an economist…The NPP has killed entrepreneurs by this action they took,” he said.

By: Rashid Obodai Provencal