Ghana’s economy is in a near state of collapse – Mahama

• Posted on January 20, 2023January 20, 2023
• by Nana Kwesi Coomson
• Comment

Former President John Dramani Mahama has observed that Ghana’s economy is collapsing under the watch of President Nana Addo Dankwa Akufo-Addo.

He indicated that extreme inflation and price volatility have worsened poverty in parts of the country.

“Back from a trip to the Savanna, Northern and Upper West Regions – and poverty has worsened due to extreme inflation and price volatility.

“The economy is in a near state of collapse; clearly, the NDC has been a better manager of the economy!” the 2020 presidential candidate of the National Democratic Congress (NDC) tweeted on Thursday, January 19.

His comments come at a time the government is struggling to get its domestic debt exchange programme implemented due to the rejection from stakeholders.

The Finance Minister Ken Ofori-Atta held a meeting with Individual Bondholders on Wednesday, January 18 on the programme.

After the meeting, he said the members of the Individual Bondholders Forum had legitimate concerns against the inclusion of individual bondholders in the Debt Exchange.

He told journalists in Accra after a meeting that “they stated their concerns which are legitimate concerns of all Ghanaians.”

He further announced that a joint technical committee has been constituted by the Finance Minister, Ken Ofori-Atta, to look into concerns raised by individual bondholders ahead of the rollout of the Domestic Debt Exchange Programme.

The Forum had petitioned the Minister to be excluded from the Programme, which has been scheduled to be rolled out after Tuesday, January 31.

They claimed they have not been adequately engaged by government in an attempt to include their bonds in the Programme.

They accused the government of short-changing them especially as the Programme comes at a time a promise was made there will no haircuts to such investments.

Interacting with journalists after the meeting with the individual bondholders, Finance Minister Ofori-Atta indicated that the Programme is not mandatory and remains voluntary.

By Laud Nartey