Politics

Mahama Lacks Competent Understanding Of Economics – Moshake

Firebrand Executive member of the Tema East branch of the opposition National Democratic Congress (NDC), Mr. Stephen Ashitey Adjei, has accused former President John Mahama of shallow understanding of economics.

In a write-up, Mr. Ashitey Adjei, who is popularly called Moshake, said the former President’s poor appreciation of the issues is what is making him refuse to acknowledge that COVID-19 is a real problem that the country is facing.“

As a member of the NDC, it might seem to be my automatic duty to criticize everything that the current government does, but that is not the style of a real mature politician. I only criticize where criticism is due.

“This is why I think Mr. Mahama has been exhibiting serious myopia by criticizing the current government the way he does. Anybody who refuses to acknowledge that COVID-19 has had a real impact on our economy lacks competent understanding of economics,” Moshake wrote, adding, “and that is what I think Mr. Mahama is.”

Mr. Mahama has for some time now been criticizing the government for the current troubled nature of the economy, saying the attribution of the problems to COVID-19 is a dubious excuse.

But according to Moshake, “that kind of dismissive attitude is not good for the country at a time that we all need to come together and confront the common enemies of our economy.”

He also adds that Mr. Mahama’s records on the economy while he was president “are there for all those who understand economics to see. You also did not exactly transform this economy.

In fact, your government bequeathed many problems to the current administration, including trapping Ghana in an IMF program.”

Moshake continues, “but by April 2019, this same government you are blaming had successfully completed that four-year IMF programme, you started and they did so by achieving an annual average real GDP growth of 7 percent between 2017-2019 from 3.4 percent in 2016, Maintaining a fiscal deficit below 5 percent of GDP for three consecutive years and Maintaining a positive primary balance for three consecutive years which put our country’s debt on sustainable path.”

Moshake adds, “The current government lowered lending rates by over 10 percentage points; restructured the banking sector to protect the savings of 4.6million depositors and strengthened the financial sector. So far this government has spent over Ghc25billion since 2018 to clean up the financial sector.”

He also points out that the current government “reduced inflation by 15.4 percent in December 2016 to 7.6 percent in 2019 and improved gross international reserves to reach US$8.6billion or about 4 months import cover by February 2020.”

“it is only a man who lacks understanding of economics that will overlook all of these factors just because the country, along with others in the world are experiencing a pandemic.”

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