President, Akufo Addo has described Mr John Dramani Mahama’s time within the workplace as an unmitigated catastrophe, including that his financial observe report, from the 2013 to 2016 was abysmal. President Akufo Addo mentioned this on Friday, tenth September 2021, in response to a query posed by a journalist at Vovradio, through which referenced a
assertion made by John Mahama accusing the present authorities of financial mismanagement. President is on a tour of the Volta Area, after visiting Oti Area. Responding to the assertion, the President acknowledged that I wonder if this assertion was was made tongue in cheek by the previous president and if you take a look at
report that this political chief, who may also accuse my authorities of mismanagement, there are just a few information that if you placed on desk to check his efficiency and mine, it could let you know whether or not what I’m providing the individuals is financial mismanagement. He continued, I ponder what ought to we describe his stewardship of
Ghana. It’s an unmitigated catastrophe, that’s what I might name him. In accordance with Akufo Addo, below the tenure of workplace of Mahama, the financial progress charge in 2016 stood at 3.4%, the bottom in 20 years; with different macroeconomic indicators additionally pointing within the incorrect path. Inflation, when he additionally left workplace, was 15.4%;
immediately, at finish of July, that are the final laborious information from the Statistical Service, it’s 9%. Rates of interest are at all times a very good determinant of how the financial system is working, 32% in December 2016, immediately, it’s 20.6%. We’re speaking about treasury invoice decline in rate of interest, we’re speaking in regards to the commerce deficit that was $1.8 billion in 2016, to a
commerce surplus of $2.6 billion on the finish of the 2019, the President mentioned. He burdened that if these statistics, which, previous to COVID-19, led to Ghana being one of many fastest-growing economies on the planet with a GDP of seven%, could be thought of financial mismanagement”, he then questioned what can be the outline of the
financial system managed by John Mahama, which additionally took Ghana into the embrace of the IMF. Responding once more to feedback made by Mahama, asking the federal government to organise an financial discussion board, Akufo Addo acknowledged that if the financial discussion board goes to be a repetition of the so known as Senchi Consensus, then I feel I’ve to spare
the individuals of Ghana this very form of growth. He continued, the Senchi Consensus was an unmitigated catastrophe, out of it we went into the embrace of the IMF with all of the difficulties that got here from there and the disarray it pointed to within the financial system of our nation. The President, thus, urged former John Mahama to be cautious
commenting on issues with financial administration. He isn’t on sturdy floor when he’s speaking in regards to the financial system. His observe report, I’m reluctant to make use of these sturdy phrases, however in regular parlance, I might say it’s abysmal and, due to this fact, he has no classes to present me in any respect within the administration of the financial system, President Akufo Addo added.
