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Prof Quartey protests Statesman story on UniBank takeover

General News

The Head of Economics Department of the University of Ghana, Peter Quartey, is unhappy about the banner headline story of the Thursday March 22, 2018 edition of the Daily Statesman, whose “political twist” seemed to have created the impression that he had accused members of the National Democratic Congress of playing politics with the takeover of the UniBank by the Bank of Ghana.

The Head of Economics Department of the University of Ghana, Peter Quartey, is unhappy about the banner headline story of the Thursday March 22, 2018 edition of the Daily Statesman, whose “political twist” seemed to have created the impression that he had accused members of the National Democratic Congress of playing politics with the takeover of the UniBank by the Bank of Ghana.

 

Prof Quartey, in a radio interview, had rather stressed the need for all not to play politics with the takeover of the bank, without mentioning the NDC, describing that as “myopic.”

“This is a myopic way of describing what has happened. Any short-sighted person who did not do a proper analysis of the situation will say this,” he said.

Prof Quartey added: “If you do a proper analysis of the situation, you will realise that when the economy started facing challenges in 2014, several businesses, including the banks, had issues. Speak to the directors of the banks and they will tell you; all of them complained that recovering their debts had become difficult. So the bank’s problems started from that period up till now. So, you can’t blame somebody now for these happenings; this is a problem that started years ago.”

“I don’t think we should play politics with it; when that happens, we actually neglect the core issues that must be addressed and rather engage in needles arguments. All of us are banking, and, so, we have to look at the problems affecting the banks and deal with them,” he cautioned.

But before Prof Quartey’s comments, members of the NDC had been playing politics with the issue, with Isaac Adongo, MP for Bolga Central, going as far as accusing Finance Minister Ken Ofori Atta of orchestrating the takeover of the management of uniBank by KPMG.

“The motive is to bring uniBank on its knees so that owners of uniBank who are perceived to be NDC will lose their business and Ken Ofori-Atta will be the one happier for it,” the MP claimed.

Apparently relying on inference, our News Desk reported: “The Head of Economics Department of the University of Ghana, Peter Quartey, has urged politicians, ostensibly members of the National Democratic Congress, to do a proper analysis of the circumstances that led to the take over of the UniBank by the Bank of Ghana and stop reading political meaning into the decision.”

Prof Quartey believes the story could create the impression that he is tilted towards one political party.

Speaking with our Editor yesterday, the renowned economist said he would always want to remain politically neutral when it comes to any discourse on national issues, stressing: “I’m an independent researcher; I don’t want to be seen to be tilting towards one political party.”

Editor’s Note:

To the extent that Prof Quartey is not happy about our story, we retract all aspects that have created wrong impression about him, and have been a source of discomfort to him, and accordingly apologise to him.