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Politics of Friday, 24 April 2020

Source: www.ghanaweb.com

Our economy is on ventilators – Mahama ‘mocks'

Former President John Dramani Mahama has taken a swipe at the ruling New Patriotic Party (NPP) stating that the economy which they said is better is rather surviving on ventilators.

“This government has used a lot of propaganda. They said the economy has been the best we’ve ever had since independence unfortunately just 1 month of coronavirus and the economy is in ICU,” he stated during a live digital broadcast on his social media page.

Mahama noted, “If we didn’t run to IMF for the 1 billion rapid credit facility, it is possible that in the next two months, probably salaries could not be paid and so our economy is on the ventilators and it needs thinking to rescue it from the ICU.”

He then advised the Akufo-Addo led government to have enough buffers to create fiscal space so that when the country is faced with such adversity or any pandemic, the country can easily overcome it.

He indicated that another way to breakthrough from such a pandemic is for the government to make 'great' sacrifices.

Mahama explained that this sacrifice needed from government is to cut down the number of ministers as well as clean up the ‘bloated’ public service to save the country some money.

Meanwhile, Finance Minister, Ken Ofori-Atta has said the Ghanaian economy will take three years to recover from the impact of the COVID-19 pandemic.

In an article published in the Financial Times, the minister said: “a U-shaped recovery is touted, but ours will likely be a steep drop, then a two- to three-year downward slide before a recovery; a trapezoid-shaped recovery!.”

According to him, debt aid by lenders such as the World Bank and International Monetary Fund (IMF) is imperative for any recovery programme.

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