Former President John Dramani Mahama, the Flagbearer of the National Democratic Congress (NDC), said no economic mess was left by his previous administration, as insinuated by the New Patriotic Party (NPP). The Flagbearer of the NDC explained that the NPP government rather took over a stabilised economy.
“When I left office, the Debt to Gross Domestic Product (GDP) was 57 per cent and the optimum GDP for middle income countries as recommended by the International Monetary Fund (IMF) is 60 per cent,” he stated.
“My administration was under the recommended Debt to GDP ratio but today, the Debt to GDP is more than 100 percent.”
Mr Mahama was speaking at a town hall meeting in Tamale, on Tuesday, as part of his Building Ghana Tour in parts of the Northern Region.
He said inflation, prior to his exit from office, was 15.5 per cent but increased to 54 per cent under the NPP-led government and subsequently dropped to 30 per cent.
Cocoa production under the current administration had reduced to below 500,000 metric tonnes from 960,000 metric tonnes under the NDC administration, former President Mahama said.
He said his government secured a syndicated loan of US$1.8 billion at two percent, based on the cocoa production value, whereas the current government had US$800 million at eight percent, underscoring the deficit in cocoa production.
“When we left office, we gave the NPP two new oil fields to triple oil revenue. All the work we did as NDC was with only one field, which is the Jubilee field.”
According to Mr Mahama, the Stabilisation Fund, which aided the country’s survival during the COVID-19 pandemic and the Ghana Infrastructural Investment Fund, which is being used for the Agenda 111 hospital projects, were both established under his administration.
There were US$300 million and US$270 million respectively in each fund, he added.
“With all these, how did I leave a mess? The constant talk of Mahama left us a mess is a myth and not true. They created the mess themselves,” the former President said.
From Rosemary Wayo, Tamale
GNA
