Flag bearer of the opposition National Democratic Congress (NDC), John Dramani Mahama, has said the NPP government has left the nation bankrupt and collapsed the economy with its poor governance.
He says the last eight years of the Akufo-Addo-Bawumia administration has been a disaster, considering the economic indices the New Patriotic Party (NPP) has left the State.
Speaking at the 8th CEO Summit in Accra Monday, May 27, 2024, John Mahama noted that the crisis the Akufo-Addo government has plunged the nation into, is unprecedented, pushing many people into poverty in the process.
“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 noted.
Detailing the economic indices, Mahama bemoaned how “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.”
Another concern raised by the former President was how the government, despite how it has managed things poorly, is failing to accept responsibility for the mess it has created.
“Despite this, the government remains unconcerned and unwilling to cut expenditures. It continues to spend more on creature 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 indicated.
The annual Ghana CEO Summit, founded in 2016, has participants of over 500 topmost CEOs, Heads of State, entrepreneurs, business leaders and policymakers from West Africa and around the world.
The one-day Summit was themed “Reigniting Business and Economic Growth: Charting a Path Forward; Economic Diversification and Artificial Intelligence Transformation. A Private-Public Sector CEO Dialogue & High Impact- Learn.”
