Former deputy minister of Works and Housing, Samuel Yaw Adusei has described the Finance Minister Mohammed Amin Adam’s apology on behalf of the Akuffo Addo/Bawumia’s government for the abject hardship on Ghanaians as a misplaced call.
He said the admission of mismanagement of the economy is unpardonable and an indication that they don’t deserve another term.
He explained “The NPP in opposition criticized the NDC government for going to the IMF and lambasted NDC over the conditionalities of the Fund’s Extended Economic Facility (ECF). The Minister of Finance now wants Ghanaians to forgive them over the excesses of the Domestic Debt Exchange Program which went through two or more extensions to entice voluntary participations’’.
He further said” The NPP government abandoned the sinking fund established in 2015 by the NDC government to manage the levels of public debt. They over borrowed with debt to GPD ratio hitting 92% in December 2022 and inflation at 54%, this was unprecedented in recent times.
The government’s reckless spending and “stunted” revenue mobilization caused the fiscal vulnerabilities which prevented the country from obtaining funding to sponsor future projects.
Attach is the post he made on his Facebook page
The Akuffo Addo/Bawumia government’s politically motivated agenda sacrificed proper economic forecasting for political expediency’’.
Additionally, he said “ DDEP was an indication of a government that has failed and messed in the management of the economy asking the ‘poor citizenry’ to come to its aid. This debt restructuring policy amid ‘haircuts’ on the value of assets by the bondholders, was destabilizing and ‘demonizing’ for present and future investors’’.
He reitraited the finance minister apology will not change anything in the economic life worse affected by the policy.
“So the Finance Minister’s apology will not bring back those who might have lost their lives, jobs and investments due to their mismanagement of the economy.
High unemployment rate, 14.7- unpardonable, 1$ to Ghc16 – unpardonable, Debt to GDP ratio of 92% – unpardonable.
Inflation at 54% – unpardonable, Public debt accruing to Ghc 742 billion – unpardonable, High cost of living – unpardonable, Ghc 25 billion to collapse banks – unpardonable.
Loss of jobs – unpardonable, E-levy – unpardonable, Nuisance taxes – unpardonable’’.
The former deputy Ashanti regional minister is therefore urging Ghanaians to vote against the ruling New Patriotic Party the NPP for the NDC led by former President John Dramani Mahama to change the economic hardship situation the government has subjected Ghanaian to for a better economic policies.
Source: www.kumasimail.com
