<<Print>>

Former President John Dramani Mahama has reiterated what he believes are the underlying reasons for the current economic crisis the country is faced with.

The 2020 National Democratic Congress, NDC, flagbearer outlined a number of reasons for the downturn whiles stressing that only an International Monetary Fund programme will salvage the failing economy.

"Ghana’s economic woes, I explained, have been compounded by the missteps of the government, poor economic decisions, the collapse of indigenous banks and finance institutions instead of saving them, corruption, and the misappropriation of COVID-19 funds, which were shared to party officials," he said in Facebook post dated September 7.

Mahama stressed the urgent need to have the IMF programme in place cautioning that reckless spending when the programme is secured adding that fiscal discipline will be required after that.

"I also expressed confidence that following the IMF programme, there would be more discipline in government’s handling of the economy.

"Confidence will only be restored when people know that we are in a programme and that the government will not behave as recklessly as it did in the past," the post added.

Mahama published the post after a meeting with the American Ambassador to Ghana, HE Virginia E. Palmer.

According to him, aside the economy, they discussed issues of mutual interest between Ghana and the United States.

"Among others, we discussed the state of security in the West African subregion and its implications for Ghana, ... investment in local industries, and the hostility of the Electoral Commission towards the NDC," his post noted.

Mahama's full post:

I received and held discussions with American Ambassador to Ghana, HE Virginia E. Palmer, on matters of mutual interest to Ghana and America.

Among others, we discussed the state of security in the West African subregion and its implications for Ghana, the state of our economy, investment in local industries, and the hostility of the Electoral Commission towards the NDC.

Ghana’s economic woes, I explained, have been compounded by the missteps of the government, poor economic decisions, the collapse of indigenous banks and finance institutions instead of saving them, corruption, and the misappropriation of COVID-19 funds, which were shared to party officials.

I also expressed confidence that following the IMF programme, there would be more discipline in government’s handling of the economy.

Confidence will only be restored when people know that we are in a programme and that the government will not behave as recklessly as it did in the past.