IMF, debt relief driving economic gains, not NDC gov’t competence — Minority

The Minority in Parliament has pushed back strongly against claims that Ghana’s recent economic improvements are the result of competent management by the government under President John Mahama.

Addressing a press briefing on Monday, January 26, Minority Leader Alexander Afenyo-Markin argued that the current economic upturn is being driven largely by external and structural factors, not deliberate policy reforms by the administration.

According to him, interventions such as the IMF programme, debt relief arrangements, improved commodity export earnings and cuts in government expenditure are the real forces behind the apparent gains in the economy.

“We have been told that the economy is doing well. That is not in doubt, but the question is: is the economy doing well because there is prudent management of our economy, or is it that this government has introduced some social intervention programs that have, in themselves, created an opportunity for young, ambitious Ghanaians?” he questioned.

Mr Afenyo-Markin insisted that the government cannot take credit for the improvement, stressing that the gains were not the product of sound economic leadership.

“We hereby submit that the so-called gains were not born out of the government’s competence in the management of our economy. Rather, the IMF program, debt relief, rising commodity exports, and reduced expenditure are the major reasons for the upswing in Ghana’s economy, not a re-engineering of the economy,” he said.

The Minority Leader maintained that until the government demonstrates clear, homegrown economic reforms, it cannot legitimately claim ownership of the country’s recent economic performance.