Former President of the Republic of Ghana, Mr. John Dramani Mahama has chastised some economic experts for failing to criticize the Akufo-Addo administration for mismanaging the local economy.
These same experts, according to Mr. Mahama, were vocal during his tenure but have gone silent under the Akufo-Addo administration.
Mahama in a Facebook post claimed that these experts have created the impression that Ghanaians’ current hardship is his fault.
Mr. John Mahama made a statement that “Our people are appalled by the hypocrisy of so-called economic experts, who told them in 2016 to ignore economic statistics and focus on the escalation of cement and other market prices, just to hear the same experts in government hold up statistics, inflation, and so on, and claim that life is better for them today.
Adding to criticizing the Akufo-Addo administration, Mr. Mahama has asked the government to organize an economic forum, as he did with the Senchi Forum.
Meanwhile, in response to this call, President Akufo-Addo stated, “I wonder whether the former president made this statement on purpose.” When you look at the record of this political leader, who can accuse my government of mismanagement, there are a few facts that, when compared to his performance and mine, tell you that if what I am offering people is economic mismanagement.”
He went on to say, “I wonder what words should we use to describe his (Mahama’s) stewardship of Ghana.” That’s what I’d call him: an unmitigated disaster.”
According to President Akufo-Addo, the economic growth rate in 2016 was 3.4 percent, the lowest in two decades, with all other macroeconomic indicators pointing in the wrong direction, during the tenure of John Mahama.
The President said that “Inflation was 15.4 percent when he left office; today, at the end of July, according to the most recent hard data from the Statistical Service, it is 9 percent. Interest rates are always a good predictor of how the economy is doing; 32 percent in December 2016, 20.6 percent today.
We’re talking about treasury bills with lower interest rates, and we’re talking about reducing the trade deficit from $1.8 billion in 2016 to $2.6 billion at the end of 2019″.