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03 July 2014

John Mahama Must Sit Up and Arrest Ailing Economy.

On July 1st, Ghanaians should have been celebrating with pride the 54th anniversary of attaining Republican status. Sadly however, from being the beacon of hope for the rest of the African continent, the vast majority of our countrymen must have perhaps endured the most depressing week in recent times.

The week began with the announcement from one of the respected rating agencies MOODYS that Ghana's sovereign rating has once again been downgraded to B2 confirming the widely held view that Ghana's economic outlook  was continuing a downward trend.

According to MOODYS, the primary driver of the decision to downgrade Ghana's economic rating was the country's high and still rising debt portfolio and our deteriorating debt sustainability. Currently investor confidence in our economy is at the lowest ebb.

Worse was to follow with the bizarre decision to airfreight $3m cash to our footballers in Brazil against all financial administration regulations in the full glare of the international media and in the process exposing our dear nation to international ridicule. The chaos that ensued at the team hotel may be scant explanation for the defeat the Black Stars suffered at the hands of a deflated Portugal culminating in our worst performance in the World Cup finishing last in our group.

President Mahama's response was to engage in a game of musical chairs shifting around his blundering ministers instead of decisive action to punish misdemeanor. But what have we come to expect from a President who has superintended the massive looting of our treasury amidst all the numerous scandals without once having the courage to fire any of his blundering ministers.

To cap a truly extraordinary week, motorists around the country were subjected to acute shortages of petroleum products. The lengths of queues at various stations were truly unprecedented. The situation could have been averted if only the government had simply acted responsibly in their dealings with the BDC's, the banking sector, TOR and accepting liability for foreign exchange losses occasioned by the gross mismanagement of the economy by the hapless Mahama government.

The incompetence of the Mahama government has attained legendary status bringing with it a level of despondency, hopelessness and state paralysis unknown in contemporary times. In fact every aspect of our national life has plunged to new depths.

Virtually all the social interventionist policies introduced by the NPP administration such as the NHIS, School Feeding Programme, Free Maternal Care, Capitation Grant, NYEP, Affordable Housing among others have almost collapsed, having been embroiled in massive corruption scandals. Ghanaians deserve better.

Running a country is serious business requiring a heightened sense of urgency, service, sacrifice and selflessness.

Enough is enough!  President Mahama must sit up and stop the rot in order to stem the slide into chaos.


Kwabena Agyei Agyepong
General Secretary, NPP.



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