Presidential candidate of the opposition National Democratic Congress (NDC) John Dramani Mahama says the claims by Ken Ofori-Atta, the Finance of the government turning the corner is false.
Mr. Mahama noted that Ghana was not on the path of overcoming it’s economic challenges as the minister opined.
Speaking at the 9th Ghana CEO Network Business Cocktail, the former President maintained that the difficulties confronting Ghanaians paints a different picture from what the minister presented.
The Finance Minister in November expressed optimism, asserting that the nation’s economy is gradually resuscitating adding that the government has established a robust foundation for the future prosperity of the Ghanaian economy.
But reacting, Mr. Mahama said “Many businesses still bear the brunt of the economic meltdown. This is because, contrary to the Finance Minister’s assertion, we have not turned any corner, and 2024 will be a very challenging year,” he said on Thursday.
He added business closures, laid-off workers, delayed international funding, and the consequences of the country’s debt default are among the difficulties confronting the country.
“As I speak, the second tranche of the IMF’s Extended Credit Facility, due on November 1, has still not been received because of a delay by our external creditors to sign off on our debt restructuring programme. Of course, the consequences of our debt default have also started manifesting.
“Major infrastructure projects have stopped because lenders have cut funding as a direct fallout from our debt default. Independent Power Producers continue to threaten power cuts due to mounting debts affecting their operations…Ghanaians face grave uncertainty if more of them follow suit,” he stated.
“As flagbearer of the National Democratic Congress, I have put forth several proposals to ensure that the economy is returned to a stable footing, and that economic activity is expanded for job creation and growth,” Mahama stated.