Running mate of the All People’s Congress, Rev. Dr. Samuel Worlanyo Mensah, has taken a swipe at the ruling New Patriotic Party, accusing it of engaging in reckless borrowing and mismanagement of our resources.
The situation the man of God says has left us in a dire economic crisis, following which we had to go to the International Monetary Fund to seek a bailout.
He posited that borrowing is not a bad idea; however, borrowing and mismanaging it or spending it on unproductive ventures is something that would create an economic crisis.
He indicated that our country has, since the inception of the fourth republican history, had a self-inflicted crisis imposed on us by the dupoly of the NDC and NPP.
He said the government quest to borrow to fund infrastructural projects that can help recoup the money to repay the loans is not bad.
But ‘we have witnessed the extravagant borrowing over the years to support consumption instead of investment, leading to the government’s inability to service its own debt, and even the reserves at the Bank of Ghana have been emptied. Pensioners and businesses have lost some significant amounts of money due to the economic haircuts’.
He said the cedi has also depreciated over 45 percent under the NPP government that claimed to have arrested the dollar, locked it and had handed the key to the Inspector General of Police.
He said the party is determined to address the cedi depreciation, and that would be outlined in the manifesto of the party, which would be launched this month.
He noted that the cost of living has also increased with Ghanaians having no ability to afford basic necessities.
He made the remarks at his official unveiling ceremony in Accra yesterday, September 3, 2024.
He said the planting for food and jobs is a laudable initiative but poorly implemented by the NPP.
On industrialisation, he underscored the need for the country to pursue that agenda to create more jobs to reduce the employment in the country.
Touting the one district, one factory as a laudable idea, he said the government, instead of helping create new factories, rather rebranded and repackaged existing and functional companies as one district, one factory.
Creating jobs, he argued, should be a private-public partnership and not an agenda solely for the government.
By: Rainbowradioonline.com/Ghana