Former President Mahama Decries Economic Hardship in Ghana

Mahama Gov't Should Take Full Responsibility for Economic Hardship (News Central TV)

On Monday, former president John Dramani Mahama urged the government to focus on cutting spending and accept full accountability for the financial hardships facing Ghanaians.

Ghana is currently on its knees for a bailout with the International Monetary Fund (IMF) amidst intensifying hardships, rising costs of living, and a depreciating cedi,” he said.

On his campaign trail, Mahama, who is running for National Democratic Congress (NDC) flagbearer, spoke to party officials in the Krachi East Constituency.

He urged the government to prioritise social intervention programs and cut spending, keeping in mind that the current IMF program would differ from all previous bailouts the nation had undergone.

“This will be the first of its kind as the nation embarks on an IMF program with debt restructuring.”.

He said the NDC’s greater concern was that the government rejected every reasonable and constructive suggestion from others on working together for economic improvement.

“The government must stop blaming the Ukraine-Russia war for the economic hardship in the country and explain the exact challenges to the citizenry,’’ he said.

Former President Mahama is expected to visit Krachi, Nkwanta North, and Nkwanta South and end his campaign tour at the Akan Constituency in the Kadjebi District.

John Mahama announced on March 2nd that he would run once more for the National Democratic Congress (NDC) in the elections of 2024, claiming that his background may benefit the country’s economy.

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National Democratic Congress, Former President of Ghana, John Mahama's Political Party (News Central TV)
National Democratic Congress, Former President of Ghana, John Mahama’s Political Party (News Central TV)

Despite having lost to incumbent President Nana Akufo-Addo in both the 2016 and 2020 elections, the 64-year-old declared that he has decided to run again after months of deliberation.

“At this stage, Ghana demands experience, not experiment,” he told supporters clad in the party’s green, red, black, and white colours in the NDC’s Volta Region stronghold.

“Ghana needs a leader who will hit the ground running on January 7, 2025,” he said, referring to the inauguration following the December 7, 2024, ballot.

Mahama said it cannot be business as usual and promised to cut the size of government and expenditures if he wins.
He also promised to look into the present administration’s spending, especially how money was spent to address the coronavirus pandemic problem.

Inflation in Ghana is above 50% in January, and the cedi currency has been severely devalued due to the global pandemic and the aftermath of the Ukrainian war.

Ghana, formerly seen as a favourite among investors, has recently battled with its enormous debt load. In order to pay off its debt, the government uses more than half of its revenue.

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