General News of 2014-06-16

Economic Hardship: Mahama NDC’s leadership support

The national leadership of the governing National Democratic Congres (NDC) has come under attack for failing to back the government as it tries to overcome the economic challenges.

While President John Mahama, according to National Democratic Congress' the Reform for Youth Empowerment, is supporting the Finance Minister Seth Terkper in leading the economic recovery effort, some elements within the party leadership have resorted to backbiting and calling for the head of the sector minister.

“The national leadership of the Party has become complacent and unsupportive of government’s tough economic policies/decisions in the face of short-term challenges,” the group said in a statement.

The statement signed by its General Secretary Ebenezer Arkutu said the Senchi Consensus is an indication that Mr. Terkper deserves more support, adding the 22-point communiqué “to a large extent vindicates his economic leadership, policies capacity and competence”.

The statement also faulted Dr. Mahamadu Bawumia and Prof. Kwesi Botchwey, for offering no solutions in dealing with the export revenue losses to the economy due to fall in prices on the international market with respect to the country’s major export commodities, when they took their turn at the Distinguished Speaker Series organized by the Central University College.

The two economists were also accused of failing to deal with the short-term/medium-term cost to Ghana’s development for the attainment of a lower middle income economy at the back of the donor community cut down on their financial support.

“It is not enough to say, the Ghanaian economy is in crisis, when you have little or nothing to offer on the specifics…Criticism or lectures ongoing with supporting figures/statistics merely pointing to crisis or challenges in the economy without evidences of solutions and proposals and/or devoid of addressing the fundamental issues of our continuous development within the context of managing/reducing the fiscal deficit are insufficient and bogus. Or failing to strike the balancing effects of reducing the fiscal deficits without guaranteeing immediate investment(s) in developing key sectors of our economy – without backing borrowing to do so in the absence of internal state capital investment(s) is a smack of intellectual dishonesty.”

The group further stated, “In the face of lost opportunities in declaring Ghana as a Highly Indebted Poor Country (HIPC) after years of benefiting from debt cancellation/debt relief by the erstwhile Kufour’s corrupt administration. The rank and file of the National Democratic Congress (NDC) wishes to assure the leader of our Party President John D. Mahama of our unwavering support for any decision that the NDC Government will further reach in addressing the current short-term economic challenges including economic bailout from the World Bank (WB), China and/or from Great Russia. Government should feel comfortable and they have our support already.”

Source: myjoyonline
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