Former Auditor-General Daniel Yaw Domelevo has strongly criticized the government for failing to deliver on its promise of transitioning Ghana’s economy from a tax-reliant system to one driven by production. Speaking at a public forum on “Curbing Illicit Financial Flows Through Accountable Governance: The Role of Media,” Domelevo did not hold back in condemning current policies, which he argued have worsened the economic burden on Ghanaians.
Domelevo accused the government of reneging on its commitment to reducing over-reliance on taxation, claiming it has instead shifted from what was initially promised as a transition from “taxation to production” to what he described as “taxation to robbery.” This shift, he explained, reflects the government’s actions of targeting citizens’ pockets through policies that lack fairness and transparency.
He cited the controversial Domestic Debt Exchange Programme (DDEP) as a prime example of this alleged financial exploitation. According to him, the program has not only unfairly burdened ordinary citizens but has also eroded public trust in the government’s ability to uphold its financial commitments. “Recently, I remarked that we were promised this country would move from taxation to production, but we have moved from taxation to robbery,” Domelevo lamented.
Expanding on his concerns, Domelevo criticized the government for targeting personal savings and investments. “Now the government is aiming at any money in your pocket. You put your savings there, and the government is aiming at it. Even when you are paying the government, you will pay tax, as if that is not enough. What pains me the most is the use to which they put the money. That is my biggest challenge,” he remarked.
Domelevo’s warning extended to Treasury bills, which have long been considered a safe and reliable investment option for many Ghanaians. He cautioned that if the current trends of financial mismanagement persist, even Treasury bills might not remain secure, further exacerbating the sense of financial instability faced by the populace.
His remarks come against the backdrop of growing public discontent over Ghana’s economic policies, debt management strategies, and transparency issues. The DDEP, in particular, has drawn widespread criticism for its impact on individual and institutional investors. Critics argue that the program unfairly shifts the burden of economic recovery onto citizens while failing to address the underlying systemic issues plaguing the economy.
At the forum, Domelevo called for stronger accountability mechanisms and governance reforms as crucial steps toward addressing Ghana’s economic woes. He emphasized the need to curb illicit financial flows, which he identified as a significant drain on national resources. By advocating for greater transparency and responsibility in the use of public funds, Domelevo underscored the importance of ensuring that government policies and actions genuinely serve the interests of the people.
The event, which brought together various stakeholders to discuss the challenges of financial mismanagement and economic instability, highlighted the critical role of the media in promoting accountable governance. Domelevo’s pointed remarks resonated with many attendees, who echoed his concerns about the misuse of public funds and the lack of meaningful progress in transitioning the economy to a production-oriented model.
As Ghana continues to grapple with its economic challenges, Domelevo’s critiques serve as a sobering reminder of the need for responsible fiscal policies and genuine reforms. His statements reflect widespread frustrations over the government’s inability to fulfill its promises and address the root causes of the country’s economic difficulties.
Domelevo’s concerns about the potential risks to Treasury bills and other financial instruments underscore the urgency of restoring confidence in Ghana’s financial system. His call for action challenges policymakers to prioritize long-term, sustainable economic growth over short-term revenue generation strategies that disproportionately impact the most vulnerable members of society.
The former Auditor-General’s candid assessment of Ghana’s current economic state has reignited important conversations about the government’s commitment to creating a stable and productive economic environment. By advocating for stronger accountability measures and transparent governance, Domelevo has highlighted the critical reforms necessary to drive prosperity and restore public trust.
His remarks also serve as a rallying cry for citizens, media practitioners, and civil society organizations to hold leaders accountable. With growing concerns about debt management, public expenditure, and the broader implications of economic mismanagement, Domelevo’s insights provide a roadmap for addressing these challenges and building a more equitable economic future for all Ghanaians.
