Ex-president John Mahama slams ruling party for mismanaging Ghana’s economy

Ex-president John Mahama slams ruling party for mismanaging Ghana’s economy

Former Ghanaian president, John Mahama, has accused the ruling New Patriotic Party (NPP) of destroying the economy of the West African nation.

The erstwhile leader said this while addressing a crowd in the Netherlands. He noted that regular Ghanaians have struggled to meet their most basic demands since the current administration led by Nana Akuffo-Ado, assumed office.

Mahama faulted what he described as seven years of waste, arrogance, impunity, nepotism and abuse of office.

“Seven years of reckless mismanagement of the economy has rendered our people broken and struggling from one day to the other just to survive,” he said.

He outlined how careless economic management has caused Ghana to be listed among nations with the worst-performing currencies such as Sri Lanka among others.

The presidential candidate of the National Democratic Congress added that many businesses had been compelled to leave Ghana due to the weak economy as inflation hit the highest record.

“Inflation is at a record high, impacting the prices of essential goods and services and escalating an already severe cost of living crisis.

“Our country, the Ghana cedi, has suffered one of its steepest declines in decades, and a month ago it was considered one the worst performing currencies in the world.

“Businesses are stressed and are being pushed to the brink with quite a number of them left with no choice but to either fold up or relocate to our neighbouring countries,” he concluded.

The forthcoming presidential election in Ghana is expected to be a tight race among the candidates as no party in the history of the West African country has ever won more than two consecutive terms.

Ghana is facing its worst economic crisis in decades as the price of goods rose at an average of 41% over the past year and candidates are expected to campaign along this line among others.

Recall that Accra secured a bailout program with the International Monetary Fund (IMF) worth $3 billion as part of efforts to ease the raging economic troubles.

The West African country has already received the first tranche of $600m after the IMF approved the bailout program.

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