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General News Fri, 31 Jan 2020

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Banking crisis: Akufo-Addo was cruel – Mahama

Former President John Dramani Mahama has observed that the route the Akufo-Addo-led NPP government took to address the banking crises was extremely harsh and cruel.

According to him, the so-called reforms created more harm to innocent depositors some of who lost their entire life savings.

The exercise, he said, created a huge debt for the taxpayer because the government took a hasty decision without reflecting on the possible cost and those that would be affected.

The former President in a live Facebook interaction promised to pay depositors whose investments have been locked in the aftermath of the banking sector cleanup when he returns to power.

He said, “We believe that we do owe depositors. When I come into government we will make sure we will pay depositors their monies within the shortest possible time.”

According to him, though President Akufo-Addo has pledged he is going to pay depositors in full; that is not going to happen in 2020.

“Even if the government is going to pay that money, it is going to be spread over the next four years. So depositors can’t sit and think they are going to get their money,” he said.

Source: Ghana Crusader

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