Respect good managers of the economy - Kufuor urges Ghanaians

Former President John Agyekum has issued a damming verdict on the performance of the Mahama-led National Democratic Congress government in the management of the national economy, attributing the country's decision to seek a bailout from the International Monetary Fund to sheer ineptitude.

According to the former president, the bailout programme would not have been necessary if the economy had been prudently managed by the Mahama-led NDC government.

In this regard, Mr Kufuor has asked Ghanaians to give due regard to people who have the capacity to ensure sound economic management whenever they are taking the decision as to who to give the mandate to manage their affairs.

Speaking on StarrFM, the former President described the entire IMF bailout programme as not only unfortunate, but also demeaning, in view of the fact that "we weaned Ghana out of the IMF tutelage to give dignity to the country and that's what is meant by self-government."

"I think it's unfortunate that we have had to go back to the IMF because of the malfunctioning economy. It's a bit demeaning, but it's a phase and we must enlighten our people to understand that next time when they come across people who can manage the economy, they should pay healthy regards to them," Mr Kufuor added.

In a related development, Managing editor of the new Crusading guide, Abdul Malik Kweku Baako Jnr., has described as highly avoidable, the country's return to the IMF for a bailout.

He insists: "the only reason we are where we are is because this government has wrecked the economy by driving it into a ditch."

Speaking on Peace FM on Friday, Mr Kweku Baako could not fathom why a government that had been blessed with so much revenue, in the form of high taxes, oil revenues, unprecedented loans, good export prices and foreign remittances, could be saddled with an unprecedented debt-to-GDP ratio of almost 70%, depreciating currency, rising inflation, arrears in statutory payments, collapse of the NHIS and other social intervention policies and now left with no option than a resort to the IMF for financial bail-out.

He blamed the country's current economic mess on lack of firm political leadership and fiscal discipline, compounded corruption perpetrated by senior government officials.

Mr Baako described as a serious indictment on the competence of the Mahama administration, the resort to the IMF for a bail-out and wondered why a government that had received over $27 billion in loans could still be struggling to gain policy credibility with a paltry $940 million.