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17.05.2019 Feature Article

EIU has stated the obvious: Mahama cannot be trusted with Ghana’s economy

EIU has stated the obvious: Mahama cannot be trusted with Ghana’s economy
MAY 17, 2019 FEATURE ARTICLE

It came as no surprise to some of us at all, when the Economist Intelligence Unit (EIU) reported recently that the governing New Patriotic Party (NPP) will retain power in the 2020 election.

Likewise, it is not far-fetched for the Economist Intelligence Unit (EIU) to conclude in its country report released on 13 May 2019 that Ex-President John Dramani Mahama will struggle big time to convince discerning Ghanaians into accepting that he is the preferable manager of Ghana’s economy, given the country’s fairly strong economic growth under President Akufo-Addo.

The Economist Intelligence Unit could not have put it any better: Ghana is indeed heading towards a favourable economic growth under the NPP government.

The fact however remains that under Akufo-Addo’s presidency, Ghana’s economic growth has moved from a disappointing 3.4% in December 2016 to a favourable 8.6%.

And the previously double digit inflation (15.8 in December 2016) has been reduced drastically to around 9% as I write.

In fact, the EIU has been extremely charitable to former President Mahama for refusing to make it clear that NDC would have stood a better chance in 2020 if the party Delegates had elected a different flagbearer.

Given the unpardonable economic downslide under his watch, Ex-President Mahama should do the right thing by eating humble pie and apologise to the good people of Ghana for wilfully messing up the previously favourable economy.

How can former President Mahama stand in front of the good people of Ghana to solicit for their votes in 2020 if he cannot see the need to beg discerning Ghanaians for forgiveness for woefully dragging the 14% economic growth in 2011 to a disappointing 3.4% by December 2016?

Does former President Mahama really believe that he can manage the economy again when he needlessly raised Ghana’s debt from GH9.5 billion in 2009 to an incredible GH122.4 billion by December 2016 with a little to show for?

Frankly stating, some of us do not suffer from chronic amnesia and can recollect vividly how Ghana’s Cedi to US Dollar stood at GH1.65 to $1 in December 2011.

However, due to dreadful errors in economic decision-making, within five years the exchange rate took an unbelievable flight and stood at GH4.20 to $1 by December 2016.

The good people of Ghana cannot so soon forget and forgive former President Mahama for the business crippling dumsor in the last five years of the erstwhile NDC administration.

Former President Mahama should stop taking Ghanaians for granted and ask for forgiveness for terribly collapsing the Agricultural sector by reducing the growth from 7.4% in 2012 to a miserable 2.9% in December 2016.

If former President Mahama really wants to lead the country again, then he should render an unqualified apology to the good people of Ghana for shrinking Ghana’s GDP from $47 billion in 2011 to $37 billion by December 2016.

Who says that discerning Ghanaians have forgiven former President Mahama for recklessly giving out large portions of Ghana’s scarce resources to parasitic creatures?

Former President Mahama should, as a matter of urgency, apologise to discerning Ghanaians for unjustifiably giving apologists like Madam Akua Donkor of Ghana Freedom Party (GFP) two four wheel drive cars and a luxury bungalow (estimated to cost a staggering $470,000) for no work done.

Why must discerning Ghanaians trust Ex-President Mahama again when he flagrantly gave away 58% of Ghana’s bauxite to his sibling Ibrahim Mahama on 29th December 2016, just a little over one week before exiting power?

In fact, former President Mahama should do the honest thing by apologising on behalf of his brother Ibrahim Mahama for egregiously evading import taxes to the tune of GH12 million during his tenure in office.

So former President Mahama thinks that Ghanaians have forgiven and forgotten the purported GH800 million dubious judgment debt payments, including the GH51.2 million to Woyome, $30 million to the Waterville and $18 million to Isofoton which resulted in the drastic reduction of capital expenditure, and as a consequence, most contractors were not paid by the erstwhile NDC administration?

How can discerning Ghanaians be so sure that the allege misapplied loan facility of $200million which was supposed to provide around 5000 affordable housing units and only provided just under 1500 housing units will not happen again in Mahama’s second term in office?

Is former President Mahama not concerned about the wilful misappropriation of $175 million loan facility secured in 2012 which was meant to provide seven district hospitals but the NDC hierarchy misapplied on the blind side of Ghanaians?

To be quite honest, some of us would be extremely surprised if Ex-President Mahama failed to beg Ghanaians for forgiveness before 2020 general elections for surreptitiously diverting $6 million of a government loan facility of $175 million meant to provide seven district hospitals into researching the then governing NDC party’s chances of winning the 2016 general elections.

Well, former President Mahama should not think that Ghanaians still suffer from chronic memory loss and therefore cannot recall the over GH200 million SADA funds invested on trees which were reported to have burnt down to ashes and the guinea fowls which flew to the nearby Burkina Faso without a trace. How bizarre?

Even though a competent court of jurisdiction has convicted and sentenced two former NDC officials over the embezzled GYEEDA funds meant to provide suitable employment for the youth of Ghana, former President Mahama must apologise to Ghanaians for superintending over such mess.

Last but not least, former President Mahama definitely owes discerning Ghanaians an unconditional apology over the scandalous Bus Branding, the Brazil World Cup, SUBA, the Ford Expedition Vehicle, amongst others.

From the look of things, unless former President Mahama decides to render an unqualified apology, the good people of Ghana will continue to ventilate their arousing disgust over his terrible errors in decision-making which culminated in harsh socio-economic standards of living.

K. Badu, UK.

[email protected]

Kwaku Badu
Kwaku Badu, © 2019

This author has authored 729 publications on Modern Ghana. Author column: KwakuBadu

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