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President Nana Akufo-Addo described the period in power of his predecessor, John Mahama, as a total disaster, calling his economic record while in power, from 2013 to 2016, abysmal.
The President said this on Friday in response to a question from the host, in which she referred to a statement by former President John Mahama in which he accused the current government of economic mismanagement.
Responding to the statement, he said: “I wonder if this statement was made in an ironic way by the former president. When you look at the file that this political leader, who can accuse my government of mismanagement, there are some facts that when you put on the table to compare his performance with mine, he would tell you that if what I am offering to people is economic mismanagement.
He continued, “I wonder what words should we describe his management (Mahama) of Ghana. It’s a total disaster, that’s what I would call it.
According to President Akufo-Addo, under John Mahama’s tenure, the economic growth rate in 2016 was 3.4%, the lowest in two decades; with all other macroeconomic indicators pointing in the wrong direction.
“Inflation when he left office was 15.4%; today, at the end of July, which are the latest raw facts of the statistical service, it is 9%. Interest rates are still a good determinant of the functioning of the economy, 32% in December 2016, today it is 20.6%. We are talking about the fall in interest rates on treasury bills, we are talking about the trade deficit which was from $ 1.8 billion in 2016, to a trade surplus of $ 2.6 billion at the end of 2019, ”the official said. President.
He pointed out that while these statistics, which before COVID-19 made Ghana one of the fastest growing economies in the world with a GDP of 7%, “can be seen as economic mismanagement,” he said. then wondered what would be the description of the economy managed by John Mahama, who brought Ghana into the arms of the IMF.
Responding again to comments from John Mahama, asking the government to organize an economic forum, President Akufo-Addo said that “if the economic forum is to be a repetition of the so-called Senchi consensus, then I think I must spare the people of Ghana this kind of development.
He continued: “The Senchi Consensus was an absolute disaster, from it we entered the arms of the IMF with all the difficulties that ensued and the disarray it signaled in our country’s economy. . “
The president therefore urged former president Mahama to refrain from commenting on issues related to economic management.
“He’s not on solid ground when it comes to economics. His record, I hesitate to use these strong words, but in normal language, I would say that it is catastrophic and, therefore, he has no lesson to give me in the management of the economy ”, added President Akufo-Addo.
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