Former President John Mahama will address Ghanaians today on the current economic crisis confronting the nation and proffer some solutions
The planned address comes amid a worsening economic crisis, which has seen the cedi plummet against the dollar, galloping inflation and other major international currencies, hike in fuel and food prices, arbitrary increase in transport fares and other hardships.
The former president’s address comes as the government intensifies its negotiations with the International Monetary Fund (IMF) to secure financial and technical assistance and support that will provide relief to the economy.
Former President Mahama has time without number descended on the government on the economic hardships the ordinary citizen is going through, describing the situation as dire and questioned whether the country can survive until an IMF programme is reached.
According to him, consequences of the government’s ill-advised policies such as botched, insensitive and dubious cost in closing down locally owned banks, unbridled levels of corruption and lack of probity, transparency and accountability including mismanagement of COVID-19 pandemic funds could not be ignored in understanding the state of the economy.
Ghana returned to the IMF for support after months of struggle with the economy and a cost of living crisis and is expecting $3 billion from the Fund and the former president attributed it to unconventional borrowing practices riddled with opaqueness, conflicts of interest, resulting in unsustainable debt envelope, costly, experimental, untested policies, programmes and social interventions cannot be ignored in understanding current dire state of the economy.
Former President Mahama has decried comments by high ranking officials not grounded on facts that took into consideration local realities, opinions and incontrovertible fact the nation is in a mess due to bad policies of the government.
