According to Mr. Richard Ahiagbah, the National Patriotic Party’s (NPP) director of communication, Ghana’s economy would still be among the fastest-growing in the world even without COVID-19.
He asserted that the NPP administration is capable of reviving the economy.
“We’ll bring it back so that all Ghanaians can profit.” He tweeted on Monday, February 20, after the Minority in Parliament accused the Akufo-Addo administration of six years of economic incompetence: “#Ghana #BuildingGhanaTogether.”
According to the opposition parliamentarians, this has made life intolerable, if not downright impossible, for the millions of Ghanaians who struggle every day to make ends meet. Even one meal a day can be expensive for many individuals.
The Opposition Leader, Dr. Cassiel Ato Forson, stated during a press conference held in Parliament on Monday, February 20, “The situation in respect to feeding in senior high schools across the country is much more troubling.”
We have an unmanageable debt load. The quantity of debt we have at this time, which is above GHS 600 billion and equals around 103% of our GDP, is the highest in the Fourth Republic. The cost of living is rising every day to levels that are out of reach for the majority of people due to hyperinflation.
Our currency has been in free fall, ranking among the poorest performers in the world, and interest rates have skyrocketed.
“Only since the start of this year has it decreased by around 20%. In the midst of the current economic crisis, the Akufo-Addo/Bawumia administration has virtually stopped paying interest and principal to millions of bondholders as part of a shoddy debt restructuring program.
After decades of selfless devotion to our country, pensioners who rely on the meager amount of bond revenues have been forced, in an unprecedented action, to take to the streets in protest.
Dr. Ato Forson added that “an ill-conceived debt restructuring program” may be putting 17 banks and more than 80% of insurance companies at risk of failing.
Ato Forson warns Ursula Owusu to stay away from taxes since she lacks knowledge in this article.
Let’s be very clear: President Akufo-Addo, Alhaji Bawumia, and Ken Ofori-Atta, to whose hands we entrusted the public money, are to blame for all of this agony and pain.
Conventional wisdom teaches us that in the midst of our severe economic crisis, a responsible government must act responsibly and cut its coat to fit its size, thus its actions must be in keeping with the dire circumstances.
He said, regrettably, “the Akufo-Addo/Bawumia government has carried on as usual, as though there is nothing at stake, and continues to recklessly exacerbate the situation of the people.”
“They continue to act in the same ways that have led us to this dreadful point, despite the fact that they are unable to meet basic responsibilities like interest payments and debt repayment owing to creditors, including pensioners.
Ghanaians have unitedly demanded a reduction in the size of the government, which is a significant consumer of public expenditures.
The NDC has requested that the minority in Parliament refuse to confirm the new ministerial nominees proposed by President Nana Addo Dankwa Akufo-Addo. On Monday, February 20, the nominees will begin to undergo scrutiny.
The NDC claimed that it has long expressed worry about the size of the present administration and agrees that it has to be scaled back in light of “the current tremendous economic crisis, which the country has been plunged into by the Akufo-Addo/Bawumia government.”
President Akufo Addo has “quite predictably remained stubborn and tone deaf,” the main opposition party claimed in a statement on Sunday, February 19, signed by General Secretary Foifi Kwetey.
In light of this, the NDC leadership instructed the minority caucus in parliament to refuse to approve any additional ministerial nominees and to continue advocating for a smaller government in order to stop the unnecessary wasting of limited public resources.
The most crucial action the government can take in this age of haircuts is to give itself one. We firmly believe that our instructions to the minority in parliament reflect the sincere views of the majority of Ghanaians. Enough has been said.