General News of 2014-08-08

Ghana’s economic mess is homegrown - John Boadu

National Organizer of the opposition New Patriotic Party (NPP), John Boadu says Ghana has joined the league of failed economies in the world, like Argentina and Greece.

According him, government's decision to seek assistance from the International Monetary Fund (IMF) to resuscitate the ailing economy is an admission that “we are not capable of managing our own affairs."

Speaking on Asempa FM’s Ekosii Sen programme on Thursday, John Boadu said the current economic mess is self-inflicted.

He noted that Ghanaians are reeling under harsh economic conditions due to the unbridled corruption and fiscal indiscipline in government.

“The economy has taken a nose dive; investor confidence is all time low and government is still in denial that the economy is in a bad shape,” he bemoaned.

The NPP man said the Mahama-led administration has shown it is not capable of managing its own affairs by opting for an IMF bailout.

“It’s strange that the economy is going above six percent and yet we are going for a bailout; this exposes the lies of government,” he stated.

John Boadu indicated that even though the prices of gold and cocoa have gone down, government gets about two million dollars from oil but, “there is nothing to show for it due to the indecent payment of dubious judgment debts to cronies."

The NPP National Organizer scoffed at the middle-income status being attributed to the economic woes noting that, “it is a shameful argument."

“Is government saying it will not be able to maintain Ghana in the middle-income status economy? They are just clueless."

The only way out, John Boadu said is for government to face the reality and be disciplined with the homegrown solutions it will present to the IMF if will approved.

Source: adomonline
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