Refuse to listen to Mahama, the economy will expose you further – Felix Kwakye Ofosu
Aide to former President John Dramani Mahama, Felix Kwakye Ofosu, has said Ghana’s ailing economy could further spiral out of control if the government refuses to listen to a call by ex-president Mahama for a National Dialogue to find solutions to remedy the situation.
He cited the instance where the NDC was vindicated after its constantly warned that the country could be heading towards going back to the IMF was ignored before a latter decision by the President to seek help after things completely got out of control.
“They arrogantly rebuffed our call. In the end, they went to the IMF almost two years late, by which time the economy had been so badly damaged that we are not going to get an IMF programme as quickly as we should.”
“If they had listened and gone to the IMF right after the elections in 2020, we would not be in this mess,” Kwakye Ofosu added.
Ex-president Mahama earlier advised the president to seek help by calling for a national dialogue so that the country’s best brains could come together to brainstorm on solutions to save the country’s economy.
Ghana’s dire economic situation was exacerbated by a downgrade of the country’s foreign and local credit ratings from B-/B’ to CCC+/C with a negative economic outlook by the Standard and Poor’s rating firm.
Another signal according to experts and industry watchers government should have been wary of was the downgrade of Ghana’s long-term issuer and senior unsecured debt ratings to Caa1 from B3 by Moody’s Investors Service.
Despite the situation looking gloomy, Mr Ofosu is optimistic about Ghana racing against time to salvage the situation.
“It is clear that our advice that a national economic dialogue is convened is in the right direction, and the earlier the government listens… the better for all of us,” he added.
