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General News of Sunday, 9 October 2016

Source: citifmonline.com

Naysayers seeing nonexistent economic crisis – Mahama

President John Mahama has hit out at critics of his government who are overlooking the significance of the international credit ratings agency, Moody’s recent reassessment of the Ghanaian economy.

He has continued to use Moody’s revised outlook on Ghana’s long term bond ratings from negative to stable as political capital by citing it as evidence of his government’s progress with the economy and establishing disciplined expenditure.

In subtle jabs at the Flagbearer of the opposition New Patriotic Party (NPP), Nana Akufo-Addo, he said, “when somebody sits and says the economy is in crises, you fail to understand where he sees that crisis. He probably has some lens that sees crisis were crisis does not exist.”

“Recently Mood’s, one of the recognised international credit agencies upgraded Ghana. At the time Moody’s was downgrading us between 2012 and 2013, the same people said Ghana has been downgraded and it means the economy is bad, you credit rating is poor and we have fought to try and restore that confidence in Ghana’s economy.”

“Now the same Moody’s upgrades us and an opposition leader says Moody’s doesn’t know what it is talking about,” President Mahama said.

Nana Addo rubbishes new rating

Nana Akufo-Addo had described as inaccurate, Moody’s recent revision of Ghana’s Long Term Bond Ratings from negative to stable.

According to the NPP flagbearer, the rating is not a true reflection of the current state of Ghana’s economy since there are still some challenges that the governing NDC is still struggling to tackle.

“Is NDC taking the massive unemployment rate in our country into account? This is not the way that the Ghanaian people want to be governed. They expect to be governed with truth not with deception, with honesty and not with lies, with policy and not with propaganda,” Nana Akufo-Addo said.