Dr. Kwabena Duffuor, a former finance minister, has criticized the New Patriotic Party(NPP), the party currently in power, for the current economic crisis and questioned the whereabouts of their much-trolled reliable economic management team.
“They said they have the men, where are the men? The economy is in bad shape. Our debt is hovering around Ghc600 billion” Dr Duffour quizzes.
The NPP will see that we the NDC have the abilities when we arrive. When we took control of the economy in 2009, we already accomplished this. For 31 months, we had inflation under 10 percent. We shall repeat it. Despite having the necessary personnel, NDC rarely speaks. Speaking to National Democratic Congress members from the Suhum and Ayensuano constituency, Dr. Kwabena Duffuor promised to revive the economy within two years of taking office.
To prevent the economy from collapsing, Ghana anticipates receiving $3 billion over three years from the IMF. The nation is undergoing a difficult debt restructuring procedure but is having trouble reducing its debt load.
The IMF has already predicted that Ghana’s debt to GDP ratio will rise even more, reaching 98.7% by the end of 2023.The nation has stopped paying its bills.
However, after reaching a more than two-decade high of 54.1% in December 2022, Ghana’s annual inflation rate eased for the third month to 45% in March 2023, down from 52.8% in the previous month.
Dr. Kwabena Duffuor asserts that the NDC has a plan to improve the economy regardless of its current status in order to lessen Ghanaians’ current financial distress.
“We’ve done it before. In the late Atta Mills era, we inherited a bad economy, but thanks to God’s grace and the fact that NDC had capable personnel, the economy was turned around.Be patient, then.No matter what condition Akufo Addo leaves the economy in, we will turn it around.They have borrowed from people everywhere.They are capable of obtaining loans but are unable to make payments.They are now begging. It’s unfortunate. They are begging everywhere, according to Dr. Duffuor.
Prior to the NDC’s Presidential Primaries on May 13, 2023, which he is contesting with former President John Mahama and former Mayor of Kumasi Metropolitan Assembly, Dr. Duffuor has begun a 4-day campaign tour in the Eastern region.