NPP has plunged Ghana into economic bankruptcy – Sammy Gyamfi

Speaking on JoyNews’ AM Show on Monday, November 27, Mr. Gyamfi urged Ghanaians to use the December 7 election to vote out what he described as a failed government.

“This election is a golden opportunity for the people of Ghana to vote for change and transformation,” he stated. “The NPP has plunged our country into economic bankruptcy and imposed untold hardships on all of us.”

Mr. Gyamfi pointed to Ghana’s inflation rate, currently at 22.1%, which has been rising for the past two months, as evidence of the government’s poor economic management. He added that the high inflation rate has led to astronomical price increases, collapsing businesses, and burdening households.

He attributed much of Ghana’s economic problems to reckless borrowing by the NPP government since 2017. Mr. Gyamfi accused the Dr. Bawumia-led Economic Management Team of ignoring sound advice and engaging in excessive borrowing, which he said has led to bankruptcy.

“Worse still, the borrowed funds were not invested in productive sectors of the economy or revenue-generating projects that could pay for those loans,” he said. “This reckless borrowing spree has brought us to this crisis, and it must stop.”

He further criticised the NPP’s tax policies, stating that they contradict the government’s promise to shift Ghana from taxation to production. He argued that Ghanaians have been burdened with excessive taxes while businesses continue to struggle under the weight of high costs.

Mr. Gyamfi also highlighted some key promises the NDC plans to implement if voted into power. He announced that the party would ban mining in forest reserves to protect Ghana’s natural resources. Additionally, he said the NDC will implement measures to attract foreign exchange, increase oil production, and use the revenue generated to stabilise the Ghana cedi.

“When oil production goes up, that’s more foreign exchange to stabilise the Ghana cedi,” Mr. Gyamfi explained, emphasising the need for policies that boost investor confidence.

With just 10 days to the election, Mr. Gyamfi urged Ghanaians to vote out the NPP.

“For the first time in Ghana’s history, we have a government campaigning against its own policies and promising to change them after the election. This is hypocrisy, and Ghanaians should not forget it,” he remarked.

He called on voters to support former President John Dramani Mahama, describing him as a leader of integrity who is committed to prudent economic management and creating opportunities for all.

“John Mahama is tried and tested. He has said he will stabilise the economy, stop reckless borrowing, and use borrowed funds responsibly to benefit Ghanaians. That is the kind of leadership we need,” Mr. Gyamfi concluded.