For the first time in Ghana’s history, according to NDC Chairman Johnson Asiedu Nketiah, the country’s debt problem has gotten out of hand.
He stated this recently during the NDC’s news conference at the University of Professional Studies in Accra: “We are going through a draconian debt restructuring debt programme for the first time in our entire history thanks to the monumental mismanagement of the Akufo-Addo – Bawumia led NPP government. Pensioner bond holders have had to engage in a historic public manifestation. As they picketed at the Ministry of Finance.”
He stated that the harsh financial haircut was “becoming a typical aspect of this irresponsible leadership.
All credit rating companies have deemed Ghana insolvent and trash. “Ghana has defaulted on its debt obligations for the first time in more than five decades,” he stated.
According to the 2020 population and housing census, young unemployment is at an all-time high. On the other hand, many firms, banks, and industries have collapsed, while others have been forced to relocate to other nations in the subregion.
“There have been massive job losses as a result and the Bank of Ghana has gone rogue and become a lawless money printing syndicate. Corruption has reached epidemic levels as epitomized by the special Covid 19 audit which was an IMF bailout pre-condition,” he added.
He claimed that despite all the difficulties, President Akuffo has continued to refuse to reduce the size of his government.
He continued, “We have a visionless, reckless, arrogant, and wasteful government that has grown resistant to advice and will attack anyone who dares to offer it, including diplomats.