In a move that could raise eyebrows in Ghana, government has called off a widely-publicized press conference due to the inauguration of US President-elect Barack Obama.

The economic sub-committee of the transition team of the new government had planned a press conference to update the public on the state of affairs of the Ghanaian economy.

Already an earlier statement by the team indicated that the country was in dire straits due to certain decisions taken by the out-gone government.

The statement maintained that the budget deficit of 13% recorded in 2008, the heavy public expenditure of the erstwhile NPP government far in excess of the total national revenue for the year, as well as the significant slow down in foreign direct investments in the country have depleted the nation’s coffers.

The press conference was intended to set the records straight on the nature of affairs and outline possible solutions to salvage the situation.

However, as it stands now the conference has been set aside.

Spokesperson for the Transition team, Hannah Tetteh says the global projection of the inauguration is such that it has the potential of taking away the shine off the press conference.

She said a new date for the conference will be communicated to the press as soon as practicable.