The Director of Communication for the New Patriotic Party (NPP) Mr Richard Ahiagbah has said that but for Covid-19, Ghana’s economy will still be one of the fastest-growing economies in the world.
He said the NPP administration knows how to bring back the economy.
“We will bring it back for the benefit of all Ghanaians. #Ghana #BuildingGhanaTogether,” he tweeted on Monday, February 20 after the Minority in Parliament accused the Akufo-Addo government of six years of economic mismanagement.
The opposition lawmakers said this has rendered life unbearable, almost impossible, for millions of Ghanaians who struggle daily to make ends meet. Many people struggle to afford even one meal a day.
Addressing a press conference in Parliament on Monday, February 20 to register their disapproval of the new ministers-designate, the Minority Leader Dr Cassiel Ato Forson said “The situation in respect of feeding in Senior High Schools across the country is even more disturbing.
“We are burdened with unsustainable debt. Currently, standing at over GHS 600 billion representing about 103% of our GDP, this is the highest level of indebtedness in
the 4th Republic. Inflation is galloping at hyper levels, and we are confronted with daily price increases beyond the reach of the majority of our people.
“Interest rates have sky-rocketed, and our currency has been in a free-fall counting among the worst performing in the world.
“Since the beginning of this year alone it has fallen by about 20%. The Akufo-Addo/Bawumia government has amid this economic disaster essentially withheld interest and principal payments to millions of bondholders under a crude Debt Restructuring Programme. Pensioners who depend on the little they get from bond proceeds have been compelled in an unprecedented move, to stage public protest against the callous attempt to shortchange them after decades of devoted service to our country.”
Dr Ato Forson further indicated that 17 banks and over 80% of insurance companies may be on the verge of collapse because of “an ill-conceived Debt Restructuring Programme.
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“Let us be very clear that all this suffering and pain is because of the gross economic mismanagement by President AkufoAddo, Alhaji Bawumia and Ken Ofori-Atta in whose hands we entrusted the public purse In the midst of our economic crisis of such magnitude,
conventional wisdom teaches us that a responsible government must take basic steps and cut its coat according to its size, so its behavior must reflect the terrible times.”
Regrettably, he added, “the Akufo-Addo/Bawumia government has carried on as usual, as though there is nothing at stake and continues to add onto the plight of the people with reckless abandon.
“At a time when they are unable to meet basic obligations such as interest and debt repayment owed to creditors including pensioners, they continue to do the very same things that brought us to this disastrous juncture. In Unison, Ghanaians have called for a reduction in the size of government, which is a major guzzler of public funds.
The NDC has told the Minority in Parliament not to approve President Nana Addo Dankwa Akufo-Addo’s new ministerial nominees. The vetting of the nominees starts today Monday February 20.
The NDC said it has long expressed concern over the very large size of the current government and shares the views that it must be reduced bearing in mind “the current massive economic mess, the country has been plunged into by the Akufo-Addo/ Bawumia government.”
Despite numerous appeals, the main opposition party said in a statement on Sunday February 19 signed by General Secretary Foifi Kwetey that, President Akufo Addo has “quite characteristically, remained adamant and tone deaf.
“The leadership of the NDC, has, against this backdrop, directed the Minority caucus in Parliament NOT to approve any of the new ministerial nominees and to further push for a reduction in the size of government with a view to reducing the needless drain on scarce public resources.
“In this moment of haircuts, the most important thing the government can do is to do a “governmental haircut”. Our directive to the minority in parliament, we believe strongly aligns with the genuine sentiments of most Ghanaians.Enough is enough.”
By Laud Nartey|3news.com|Ghana