Mr. Alan Kwadwo Kyeremanteng, former Minister of Trade and Industry, on a nationwide tour to formally announce his presidential bid made a stop at Sefwi Wiaso in the Western Region to engaged some traditional leaders in the area.
To win the solidarity of the traditional leaders, He explained how the economic hardships in the country has made it difficult for the Party to communicate persuasively admitting the failure of his party in government.
“We are in crisis and every honest person admits that. We’ve worked but because of the economic crisis we find ourselves in, it’s difficult for the NPP conceptualizing a message for the people of Ghana going into 2024 elections”.
Under his NPP government, Ghana’s fiscal and debt vulnerabilities have worsened making it impossible for the country to service its public debts. Government’s efforts to maintain debt sustainability have not been deemed sufficient by investors, resulting in credit rating downgrades, non-resident investors leaving the domestic bond market, and ultimately Ghana losing access to international capital markets.
These unflattering developments coupled with recklessness in Covid 19 expenditures have led to a significant decline of the cedi against the US dollar and a surge in inflation at a record high of 54.1 according to Bloomberg.
In light of the above, the NPP has sort the International Monetary Fund for a support program in restoring macroeconomic stability and ensuring debt sustainability. The very same fund they chastised the then ruling NDC government led by H.E John Mahama in 2015 for when the erstwhile leader sought the possibility of a bailout.
Mista Opare