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Economic Management: Seth Terkper rejects suggestion he is the bane of the economy

Finance Minister Seth Terkper has fought back criticism by an audience that he is the bane of Ghana's economic woes, saying he is not the cause of falling commodity prices.

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Finance Minister Seth Terkper has rejected "simplistic" suggestion that his management of the economy is bringing untold hardship to Ghanaians.

Terkper, who appeared on Peace FM's Morning Show "Kokrokoo"  Monday, was subjected to a barrage of criticism from listeners who sent in text messages, blaming his management style for the woes of the economy.

But, Terkper fought back, saying he is not the cause of falling commodity prices and the disruption of gas supply through the damaged West Africa Gas Pipeline.

"Excuse me to say that it is a bit simplistic [for people to say that it is my poor management of the economy that has brought us to where we are] because I didn’t cause gold prices to fall, I didn’t cause cocoa prices to fall, neither was I responsible for the pirate ship that broke pipeline and therefore disrupted the supply of gas into the economy, neither was my boss the president responsible for these things,” Seth Terkper said on Monday.

Ghana exports cocoa, gold and coffee and any slump in commodity prices will affect the country's foreign exchange.

Terkper also said the 'worse is over' as far as economic crisis in concerned, saying unless there is a setback.

He said: "the worst is over unless there is another setback. When prices of crude oil, gold…go down, it means your power to earn foreign exchange is affected…the price of cocoa has recovered; we are seeing gold recovering and so when this happens the economy becomes stronger”.

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