NDC & NPP News
Former President John Dramani Mahama Reacts to Ghana Going to IMF Under Akufo Addo
Former President John Dramani Mahama React to Ghana Going to IMF Under Akufo Addo
“I welcome President Akufo-Addo’s decision to formally engage the IMF with the view to entering into a programme under the Fund.
Though belated, it should mark an important step towards addressing the dire economic situation, which has left Ghanaians wallowing under intense suffering and hardships.
Beyond the announcement of engagement with the IMF, a comprehensive home-grown programme should be fashioned out and presented to the Fund for support. It is imperative that a team of skilled and competent negotiators is put together to obtain the best set of measures with the Fund.
The Finance Minister who has supervised the disastrous collapse of the economy cannot and should not be part of the team of negotiators. He has lost credibility and the trust and confidence of stakeholders in our economy.
President Akufo-Addo must take a bold decision to replace his finance minister immediately with a more assured and competent person who is willing and able to work tirelessly to turn our almost hopeless situation around.
In addition, given his obvious failures, the Vice President must be relieved of his responsibility as Chair of the Economic Management Team to enable the President to reconstitute the team.
We must draw useful lessons from this episode and avoid cheap politicking with the economy; that can only yield the disastrous outcomes that have brought us here.”
This is a leader talking. Honest and visionary. God bless you President John Dramani Mahama. We miss your leadership and can’t wait to see you in POWER.
The entire government must be replaced, reshuffled or disbanded for trying to kill Ghanaians with this untold hardship! Akufo Addo himself must resign effective immediately!
Similarly, we the living also expect better from the government. We expect government to set right priorities, eschew arrogance, stop wasteful expenditure, address corruption and tolerate dissent. We also expect government to bring socio-economic relief to Ghanaians.
As we observe our Republic Day, let government set their priorities right in order to address the excruciating hardships millions of Ghanaians are going through.
And let us also re-dedicate ourselves to building a prosperous nation.
Former President John Dramani Mahama Reacts to Ghana Going to IMF Under Akufo Addo
Nana Addo and his criminal cartel have taken us back 60 years with abysmal performance in handling the economy.
Their ignorance and arrogant posture has clouded their sense of reasoning.
The only thing they are doing right is stealing and corruption.
We all criticised your government because Ghanaians had higher expectations. Unfortunately we installed mediocrity and a clueless bunch of egocentric government that was on a reverse gear towards an exponential economic disaster. And we have finally arrived. Ghanaians say sorry JM for the curse we brought upon ourselves and posterity.
All African voters should learn from the drama happening in Ghana 🇬🇭… the fact that we are practicing democracy does not mean we should change government after every two terms.
Singapore practice democracy but one ☝️ government has been leading the little country over 70 years because the people chose reality over lies and fake promises.
Bridget Dumann says John Mahama made presidency look so easy and so effortless. They thought they could do it better. I always used to say posterity will judge Ghana for voting against JDM. But it came too soon. Way too Soon.
Must-Read Articles
“I will choose Ghana Card over 1000 interchanges” – Ghana Vice President Bawumia poked fun at NDC.
Vice President Dr Mahamudu Bawumia has chosen sides when it comes to infrastructural development and Ghanaians acquiring unique identitification numbers.
I will choose Ghana Card over 1000 interchanges – Bawumia said.
Give this guy the rest of his life to be the president and he will come back and tell you about his inheritance. A non-performer always looks out for excuses and not solutions. Hmmmmm, a ceremonial president. I personally think he can do himself some good and stop talking. `He is just irritating every Ghanaian, including his own party members.
Ghana Card to be recognized globally as an E-passport next year – Bawumia claims.
Bawumia trends on social media for choosing Ghana Card over 1,000 interchanges.
Can’t believe there were people around who refused to let him realise how stupid his comment was but rather went ahead to clap for him.
If we fix our misplaced priorities in this country first, then we can start the talk of Ghana card and National Cathedral. Does the Gh card stop road accident due to poor roads? Does it heal people and stop people from sleeping on floor when there are no beds in our hospitals? Does the Gh card fix the Korle bu mortuary? Among numerous issues in this country, then we can have the Gh card talk! If the card doesn’t solves all these problems, then I think the Gh card issue should be secondary in this country! These developed countries we always compare gh to do not have misplaced priorities. We talk of underground train station and amazing things going on in these developed countries and I am sure their resident card has got nothing to do with it. After all there are illegal immigrants in these countries. So how about that? Sorry for the long talk but I think we are tired in this country.
Ghana card is a significant thing but it’s a shame it came this late. Damn, this vice president needs some type of assistance in evaluating his ideas. Comparing an identity scheme to infrastructure development? I pray this man comes no where near wanting to be the actual president. I can’t believe he’s a Dr. Damn! Why is Ghana like this? How the hell do all these weak-minded people end up in office? It seems all you have to do is join a political party, have some sort of degree and then ask to be voted into office regardless of whether you’re dumb or not. Common sense is better than book sense.
The Ghana card is great, but he should have explained to Ghanaians the relevance of it. And also in this trying time of the economy, the statement of the Ghana card to the interchanges were not what Ghanaians needed to hear.
if the Ghana card is implemented well. it can solve a lot of issues in this country like access to finance for entrepreneurs, student loans, tax collection, paying pension, easily track down and issue fines to indiscipline drivers since all their financial data will now be linked to the card.
If an identity card is important than dévelopements then Ghana is doomed. Identity card is just for administration works. Ce fini. Instead of them creating jobs for the citizens and get paid, they say what. Keeping an ID card in your pocket without work to do is baseless. Those of OUR BROTHERS and sisters living in Europe and America are working to survive not just because they have ID cards in their pockets. The national ID card or Résident card helps to find a job but when you sleep with the card you will die of hungar. And no bank in this world will give you a loan because you have a national ID card. You have to find yourself a job first. So Bawumia and his government should creat jobs for the People.
Must-Read Articles
- Former President John Dramani Mahama Reacts to Ghana Going to IMF Under Akufo Addo
- Ghanaians Tease Biggest Liar Bawumia Over Cedi Depreciation
- National Democratic Congress NDC Party is More Than 30 Years Old
As of 2022, The National Democratic Congress (NDC) Party is More Than 30 Years Old
In the whole African continent, the Ghana cedi (GHS) is now the worst perfoming national currency. Ghanaians Now Tease Biggest Liar Dr Bawumia Over Cedi Depreciation.
Vice president Dr. Mahamudu Bawumia is being teased by Former president John Mahama over the depreciation of the Ghana Cedi against the dollar. The local currency – the Ghana Cedi – is losing grounds to major international currencies such as the Dollar and the Pounds Sterling. Currently in early 2022, almost GHS 7 Cedis is going for $1. Bawumia Described the NDC administration as incompetent when it comes to handling the economy, meanwhile things are now worse.
“When Bawumia was in opposition, he always said that the fundamentals were not right and that was why the value of the cedi wasn’t good. So when you come, we expect that you put the fundamentals right so that the cedi would not depreciate.”
“So when it is being pointed out to you that even your time the cedi is still depreciating, they just want to draw your attention to the fact that the cedi is still struggling. So Bawumia should rather go for a proper understanding of the fundamentals and not chastise somebody for criticizing the government,” George Loh said on Citi TV’s Breakfast Daily on Monday.
Africa News said the Ghana cedi is now the worst-performing currency among Africa’s top currencies, according to Bloomberg. Bloomberg pegs the depreciation of the cedi to the dollar at 8.86% between January 1, 2022, and February 25, 2022. This is followed by the Zambian kwacha with a depreciation of 6.02%.
Why is the Ghana cedi depreciation?
In 2018, Bawumia wrote:
“It has been brought to my attention that former President Mahama has recently been talking about exchange rate depreciation.
The former President’s comments once again, sadly demonstrate his lack of understanding on key aspects of our economy.
I understand the difficulty of the former President in appreciating the currency depreciation debate. I would try to simplify the explanation for him.
The data on the performance of the Cedi over the years shows that the Cedi is recording one of its best performances in the Fourth Republic under President Nana Addo Dankwa Akufo-Addo. The depreciation of the Cedi against the US dollar is one of the lowest in the first year of any government since 1992. The data is clear on this indisputable fact.
An equally instructive fact to note is that the NPP has demonstrated to be by far better managers of the Cedi than the NDC. In the entire 8 years of President Kufuor’s (NPP) rule from 2001 to 2008, the price of the Cedi relative to the dollar moved from GHc0.7 to GHc1.2, representing a depreciation of 72%. However, in the 8 years rule of both Presidents Mills and Mahama (NDC) from 2009 to 2016 the Cedi depreciated by 247%, moving from GHc1.2 to GHc4.2. Such higher rate of depreciation in less than a decade is simply unacceptable and signifies high levels of incompetence.
Although it is early days, there is much optimism for a more stronger currency under the leadership of Nana Addo Dankwa Akufo-Addo. Converse to the first 18 months of many governments in which the Cedi depreciated by more than 10%, the first 18 months of this government has recorded a marginal depreciation of 7%.
The reason for our relatively strong exchange rate performance is that our economic fundamentals (which Mr. Mahama sought to question) under Nana Akufo-Addo are strong. Much stronger than the mess he left us. The deficit is lower, inflation is single digit, the debt to GDP ratio is declining, interest rates are declining, our foreign exchange reserves are healthy, business confidence is rising and economic growth is increasing.
The graphics below tell the story. I hope the former President takes his time to read the facts.
Ghanaians Tease Biggest Liar Bawumia Over Cedi Depreciation.