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General News of Wednesday, 26 May 2021


Ghana on the verge of multiple crises under Akufo-Addo – Haruna Iddrisu

Minority Leader Haruna Iddrisu Minority Leader Haruna Iddrisu

Haruna Iddrisu has passed a damning verdict on Akufo-Addo administration

• Haruna says the government has not handled the economic issues effectively

• He also criticized the decision to set up a new national bank

Minority Leader Haruna Iddrisu has observed that the country is on the verge of ‘multiple crises’ under the Akufo-Addo-led administration.

Haruna Iddrisu told JoyNews that the economy is in shambles, the energy sector is currently in crisis and the effect of the Covid-19 has further exacerbated the issues.

The Tamale South MPs said the issue of the economy got to do with lack of discipline on the part of the government which he claims have been embarked on ‘profligate spending’.

“Nana Addo Dankwah is supervising an economy or a country that is at the precipice of multiple crises; an economic crisis, a Covid crisis and an energy ‘dumsor’ crisis.

“An economic crisis because if you listen to the World Bank, the IMF, Fitch and Moody this is the highest fiscal deficit ever recorded in Ghana’s history of 15.5 per cent.

“The Ghanaian economy is simply not doing well; contractors remain unpaid, there are people who have certificates outstanding from 2016-2020.”

“When you don’t discipline your expenditure and run fast on profligate spending, you’re likely to get this [outcome].

Haruna Iddrisu also criticized the setting up of the National Development Bank, questioning why the government will not channel the funds into saving NIB and ADB.

“What has happened to ADB, what has happened to NIB? Can’t you recapitalise them? Can’t you refocus their mandate and vision to deliver?

“NIB is near collapse, ADB [is] near collapse. You couldn’t even borrow money to save 7 banks that have collapsed, 23 savings and loans institutions, over 220 micro-finance entities. Why didn’t government borrow to save those jobs and save those savings and instead spend a whopping 23 billion and turn around to borrow?” He quizzed.

“If I were President Nana Addo Dankwah, I will declare a Ghana Beyond Covid and not Ghana Beyond Aid because [for] one, he has a 3 and a half year journey and that journey cannot attain a Ghana Beyond Aid, when he runs to the European Investment Bank to €170 million to set up a development bank,” he said.