A member of the National Democratic Congress (NDC) Communications team, Felix Kwakye Ofosu, has expressed his concerns about the economic situation in the country, attributing it to reckless spending by the government.
He highlighted the government’s borrowing deficit, which amounted to a massive five hundred billion Ghana Cedis.
In an interview on Asempa FM’s Ekosii Sen, Tuesday, he asserted that the economic challenges were not solely caused by external factors such as the Covid-19 pandemic or the Russia-Ukraine war.
He stated, “The reality is that what we are suffering now is not the result of Covid but a result of deliberate recklessness. You decide that you will spend yourself and become bankrupt because you needed to win an election and you turn around and blame Covid.”
Mr Kwakye Ofosu also criticised the credibility of the NPP government in managing the economy, accusing them of going back on their promises.
He pointed out that the same finance minister and deputies who denied going to the IMF in the past are now seeking IMF assistance.
Moreover, he expressed concern about the government’s actions, including the “Domestic Debt Exchange Program,” which affected bondholders and caused significant pain and suffering to the Ghanaian middle class.
Regarding the depreciation of the cedi, he referred to criticisms by the NPP, led by Dr Alhaji Bawumia, during the NDC’s time in power when the dollar exchange rate against the cedi was lower.
Mr Kwakye Ofosu highlighted the irony of the situation, with the NPP now facing a similar currency depreciation issue during their governance.
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