The Deputy Minority leader says he would not “trust” statistics about Ghana’s economy churned out by the International Monetary Fund (IMF) because they are compromised.
James Klutsey Avedzi claimed the Britton Wood institution has been holding meetings with now Vice President Dr Mahamudu Bawumia to verify the facts about the country’s economy under erstwhile President John Mahama.
Speaking to Joy FM uesday, the Ketu North Member of Parliament (MP) said he would trust the Ghana Statistical Services (GSS) than to latch on the IMF figures about the country.
President Nana Addo Dankwa Akufo-Addo has said by the end of 2016, Ghana’s debt stock had risen to GH¢122 billion representing about 74 percent of Gross Domestic Product (GDP) despite the denials by the Mahama-led government.
He was emphatic that more debt was accumulated by the previous National Democratic Congress (NDC) government than all other governments put together since independence.
“In fact, 92% of Ghana’s total debt stock was incurred in the last eight years under the previous government,” he said, adding the interest costs on the debt has also increased estimated to be GH¢14.1 billion in 2017.
He also said the former President could not meet all the targets under the IMF programme as at December 2016.
“Fiscal indiscipline, once again, reared its head in the 2016 election year. Total projected expenditure for 2016 was GH¢43.9 billion (26% of GDP), but actual expenditure amounted to GH¢50.3 billion (30.2% of GDP),” he said.
President Akufo-Addo added the total revenue target set for 2016 estimated at GH¢37.9 billion (22.7% of GDP) rather ended up with GH¢33.2 billion (19.9% of GDP).
But NDC MPs have registered their disappointment in what they described as the “pick and choose” manner the President used figures about the economy.
Mr Avedzi disagreed with President Akufo-Addo on GH¢122 billion public debts accumulated under the NDC government saying it is a nominal figure that does not create the full picture of the situation.
Nonetheless, he said what should have attracted the attention of the President is what the loans contracted under former President Mahama were used for.
He said the NDC MPs would come out with a statement about the true State of the Nation Address which will touch on their achievements in the coming days.
Source: Joy News
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Yes Avedzi is right HE NAADA only talk about debts incurred but refuse to talk about what the moneys were used for. At least l expect that he should tell us for instance that A amount was received in 2014 and B amount spent to construct a bridge at braha bebume so where is the balance. Or C amount was received but cannot be found what that money was used for. It is unfair just to mention the amount received and leaving it there as if all those moneys went to NDC coffers. Let us be realistic and remember that NPP cannot be in power forever.
Are these not the same people who said their program with the IMF was to give what they called their home-grown policy CREDIBILTY? You go to the IMF for policy credibility;now you turn round to say you don't trust their data? Eeii NDC? These people must be laughing at us
Another honourable in parliament. Hmmmmmmm
See another mammal in parliament...ghana is just not serious
What's his name? Whatever.... you can trust your small brains. Won't you stop disgracing Rawlings? This Statesman did not build NDC on giant lies. No wonder he feels do disappointed. Don't you learn? Ever? If you dont trust IMF, you trust IMC
Then Bawumia is an economic genius as most Ghanaians say.
That's interesting revelation. If the IMF team privately met Bawumia to discuss the state of the economy then it's clear Bawumia had more credibility with foreign donors and investors than did the entire economic management team of the NDC. What James Avedzi and his ilk didn't realise was that the more they called Bawumia a liar, the greater he rose in the estimation of external partners. Why? His analytical predictions almost always were proved right with time. And still the NDC called him a liar! It provably got to a point where our external partners began to see NDC officials as a bunch of jokers who couldn't be trusted; hence the private meeting with Bawumia to obtain insights on the real state of affairs! The IMF simply rejected NDC's governance by propaganda!
What kind of coconut heads do we have as MP's and leaders in Ghana? Now NDC says they trust the Ghana statistical service more than the IMF. I stop here and rest my case.