Ghana’s economy in crisis due to Akufo-Addo’s poor leadership – Mahama

The flagbearer of the National Democratic Congress (NDC) John Dramani Mahama has criticised President Akufo-Addo for failing Ghanaians and refusing to accept responsibility for recklessly mismanaging the economy.

He accused the government of plunging the country into an “unprecedented” economic crisis, thereby pushing more than 800,000 Ghanaians below the poverty line.

Speaking at the 8th Ghana CEO Summit at the Kempinski Hotel in Accra, on Monday, May 27, he said, “Today, we stand at a critical and troubling crossroads. Our beloved country has become a bankrupt and collapsed economy due to the poor leadership of almost eight years.

“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.

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