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Business News of Thursday, 1 February 2024

Source: classfmonline.com

'Debt has swallowed the country' - John Mahama laments

Former President John Dramani Mahama Former President John Dramani Mahama

President Nana Akufo-Addo has collapsed Ghana, former President John Mahama has said.

Speaking during his Building Ghana Tour in the Asuogyaman District of thr Eastern Region, the flagbearer of the main opposition National Democratic Congress, also pointed at the fact that Ghana's debts continue to mount.

“My brothers, looking at the state of Ghana today, this isn’t the country I handed over to Nana Akufo-Addo on 7th January 2017. The country has collapsed. Debt has swallowed the country", he added.

Using Asuogyaman as an example, Mr Mahama observed that "no developmental project has been done since they (NPP) came into power.”

The Ghanaian economy has been a topical issue in recent years following a downturn occasioned by galloping inflation, a depreciating currency, and a general decline in the quality of life coupled with high cost of living.

The government has serially blamed the aftermath of COVID-19 and the Russia-Ukraine war before submitting to a US$3 billion IMF loan last year, of which US$600 million as tranche one has been credited to the government account.

On the issue of premix fuel supply to fisherfolk, Mr Mahama said: “When NDC was in power, proper measures were put in place for fishermen to establish its landing beach committees where premix was given to the committee to hand over to the fishermen".

"However, the narrative has changed: Politicians are now in charge of the premix affecting the works of fishermen. We promised to change it when voted into power.”

He also promised to revive Juapong Textile factory should he win power.

“We’ve been in power before and you all can judge how things were going when NDC was in Parliament. This is an election year and we are contesting again. We all know that if you are given power, you are meant to serve the people and you must know what the people need to address that.”