Business & FinancePolitics

Ghana Under Mahama Was Far Better Than It Is Today– Ato Forson

The Member of Parliament for Ajumako/Enyan/Essiam constituency, Cassiel Ato Forson has argued that Ghana’s economy under former President John Dramani Mahama was better than it is seen under the Akufo-Addo-led government.

This was contained in a press statement in response to assertions that the incumbent government inherited a derailed IMF programme and a highly impaired and ethically strained financial industry from our predecessors.

The Minority Leader in the statement dated September 18 said contrary to the assertion, their government left office bequeathing to the current administration a “robust economy with very strong buffers” with an accompanying debt of GHS 120 billion which has subsequently been increased GHS600 billion, plus a “strong tax policy and a prudent and controlled expenditure regime, including the Government Integrated Financial Management Systems (GIFMIS).”

“The NDC left behind a robust economy with very strong buffers. The Mahama government left behind the Sinking Fund, Stabilisation Fund, Ghana Infrastructure Investment Bank (GIIF), and Ghana EXIM Bank as well as a robust tax revenue and oil revenue from three oil fields which the NPP used to kickstart their administration. Yet they have very little to show and have collapsed the economy on their watch.”

He furthered that the NDC government’s economy at the time had a credit rating of B+ and warned: “The Minister of Finance should not say anywhere again that the NDC administration left behind a derailed IMF programme.”

According to him, it was due to the “robust” economy they left behind the New Patriotic Party government was able to access a loan facility of US$2.25 billion from Franklin Templeton in their first few months in office.

“The Minister of Finance should carry his mess and his shame. He should not bring the NDC into matters that border on his greed, state capture for his family and friends as well as his monumental failure in public office. We did better than they are doing and the NDC will always do better when the good people of Ghana give John Mahama and our party the opportunity to govern from January 2025.”

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