A chartered banker and financial analyst, Mr Prince Obiri Yeboah, has stated that it would not be unreasonable to suggest that President John Dramani Mahama’s first year in office has been remarkable.
He noted that, based on the achievements so far, largely in terms of the economy, the President has performed well.
In an interview on Frontline on Rainbow Radio 87.5FM, Mr Obiri Yeboah indicated that the President has exceeded the expectations of some individuals.
Mr Obiri Yeboah further explained that one of the primary reasons for the enthusiasm among a section of Ghanaians is the significant reduction in inflation and the appreciation of the cedi against the dollar and other major currencies.
“If you examine Mahama’s year in office in his second term, I can state that largely in terms of economic management, he has done extremely well. To most of us, he has exceeded our expectations. For a country to enjoy stability, there are some benchmarks that must be achieved. In particular, inflation is a key factor. Ghana has started experiencing the gains that enable Ghanaians to enjoy good living conditions. We hit a point where inflation exceeded 20 per cent, but today, we have gotten to a point where inflation has reduced to almost below 5 per cent.”
He said that per the report by the Statistical Service, unemployment keeps reducing, although at a lower rate.
He indicated that all the credit rating agencies have given us favourable ratings, which shows we are rebounding.
The analyst added that our debt-to-GDP ratio projected by the International Monetary Fund (IMF) is around 59 per cent, which was not the case in the previous government, leading to the debt exchange programme.
Mr Prince Obiri Yeboah said, “This is something we have witnessed in a long time, and so to see it happen under this government is commendable.”
Experts had also raised concerns about how the previous government was borrowing in the Treasury Bill Market, which was a threat to the Domestic Debt Exchange Programme (DDEP), but today, most borrowing has reduced, and the current government has reduced the cost of borrowing from 28 per cent to 9 and 12 per cent in the Treasury Market.”
By: Rainbowradioonline.com/Ghana
