The Member of Parliament for Walewale Constituency, Hon. Abdul Kabiru Tiah Mahama, has expressed concerns about the government’s economic management strategies.
Speaking on the floor of Parliament, Hon. Mahama noted that the prices of goods and services are determined by market forces of demand and supply, as well as currency fluctuations.
He highlighted that the injection of dollars into the economy by the Bank of Ghana may be masking underlying economic issues, rather than addressing the root causes of the problems.
Hon. Mahama cited the International Monetary Fund’s (IMF) advice to the government to collaborate with the Bank of Ghana to stop intervening in the economy by injecting high amounts of currency.
Regarding the debt-to-GDP ratio, Hon. Mahama attributed the decline in GDP to the government’s debt restructuring program and IMF support, rather than any positive economic growth.
He questioned the government’s claims about reducing debt, pointing out that the debt-to-GDP ratio had moved to 54% despite the government’s assertions of progress.
Hon. Mahama emphasised the need for transparency and clarity in the government’s economic management and debt reduction strategies.
By: Rainbowradioonline.com/Ghana
