He said Ghana’s current predicament is the President and his government’s own doing.
Akufo-Addo caused Ghana’s current economic difficulties – John Jinapor
John Abdulai Jinapor, a former Deputy Minister for Power has criticized President Nana Addo Dankwa Akufo-Addo for the current hardships Ghanaians are going through.
Speaking on Accra based Citi TV, he layed the blame at the doors of the President, insisting that despite the global economic situation, there is nothing to show for the huge borrowings, thereby compounding the country’s economic situation.
“The [crisis] is a Nana Akufo-Addo problem. There is a problem and what we are witnessing now is unprecedented. Something must be wrong somewhere because of excessive borrowing. We are borrowing as if there is no tomorrow. Going forward, government must move away from reckless borrowing”, John Jinapor said.
“Managing an economy is not only about today but the short, medium and long term. If you borrow and invest it in productive sectors, it spurs economic growth, creates jobs and generates more revenue and can deal with the headwinds”, the MP added.
Recent international ratings that saw Ghana’s economy downgraded to reflect the country’s inability to fix its liquidity and debt challenges.
With limited access to the international financial market and challenges with domestic revenue mobilization to rescue the situation, Ghana has now turned to the International Monetary Fund (IMF) for a US$ 3 billion bailout.
In a recent address to Ghanaians, President Nana Addo Dankwa Akufo-Addo admitted that the country is in crisis.
According to him, “so many malevolent forces” have come together at the same time to cause the current economic turmoil bedevilling the country.
President Akufo-Addo said this while addressing the nation on Sunday on the country’s economic challenges, which have forced the government to seek support from the International Monetary Fund (IMF).
“We are in a crisis, I do not exaggerate when I say so. I cannot find an example in history when so many malevolent forces have come together at the same time.”
The president is however hopeful that Ghana would bounce back from its economic predicament.
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