Former President John Mahama has called on Ghanaians to support the government to revive Ghana’s ailing economy.
He has charged Ghanaians to show patriotism in supporting President Nana Addo Dankwa Akufo-Addo and Vice President Dr. Mahamudu Bawumia to save the economy from imminent collapse.
According to him, though the current precarious economic condition in the country was a result of poor economic management by Nana Addo and his team, Ghanaians must be patriotic and help the government bring back the economy to its feet.
“So, we must all do what we can in our own little ways to ensure that the economy recovers, so let us all hold hands together as Ghanaians beyond political considerations, beyond family considerations to make sure that we recover this economy,” he said during the funeral rites (Adua) of the late Alhaji Mumuni Mankama, who was a staunch member of the National Democratic Congress (NDC) at Wa in the Upper West region.
Recent international ratings saw Ghana’s economy downgraded to reflect the country’s inability to fix its liquidity and debt challenges.
With limited access to the international financial market and challenges with domestic revenue mobilization to rescue the situation, Ghana has now turned to the International Monetary Fund (IMF) for a US$3 billion bailout.
Economists believe the debt stock of Ghana’s excessive borrowing will collapse the economy.
Honorary Vice President of IMANI-Africa, Bright Simons said the economy of Ghana is not considered sufficiently creditworthy.
He stated that it has become critical for more public sector borrowing in order to survive as a country.
The Ghanaian economy has for the past five years, been at the macro level, a situation that has led to the inability of the people to feel the growth in their pockets.
