The National Democratic Congress (NDC) flagbearer, John Dramani Mahama, has sharply criticised President Nana Addo Dankwa Akufo-Addo for what he describes as reckless economic mismanagement and a failure to take responsibility for Ghana’s current financial woes.
Speaking at the 8th Ghana CEO Summit at the Kempinski Hotel in Accra on Monday, May 27, Mahama asserted that the country is facing an unprecedented economic crisis, which has pushed over 800,000 Ghanaians into poverty due to the government’s poor handling of the economy.
“This leadership has failed Ghanaians and yet refuses to accept or even take responsibility for the most reckless management of our economy in known history. This has plunged our nation into an unprecedented economic crisis and pushed more than eight hundred thousand (800,000) Ghanaians below the poverty line.”
He cited the unemployment rate which has jumped to 14.7% from 8.5% in 2017.
“Unemployment has jumped to 14.7% from 8.5% in 2017, the highest level recorded in the history of the 4th Republic; inflation is above 25%, and the current interest rates range between 30% and 50%. The exchange rate, which was previously at 4.00 Ghana Cedis to the US dollar, has crossed the 15 Ghana Cedi threshold, and there appears to be no end in sight to the deterioration of the cedi.”
Mahama further criticised the government for being unconcerned to cut expenditures.
“Despite this, the government remains unconcerned and unwilling to cut expenditures. It continues to spend more on creating comforts instead of investing in the transformational infrastructure that will propel this nation forward.
“Corruption has become a new normal for this government, and Ghanaians have become numb to the growing scandals that continue to be exposed daily,” he said.