Economy too hard to bear

…NDC supporters tell JM

The grassroots supporters of the ruling National Democratic Congress (NDC) could no longer hide their frustrations against the government of John Dramani Mahama over the worsening economic hardship they are facing in recent time.

The NDC supporters mentioned high cost of foodstuffs on the markets, continuous increase in fuel prices leading to hike in transport fares, astronomical utility tariffs, unbearable rent of accommodations and the general living conditions in the country as some of the factors making life extremely difficult to cope with.

These angry supporters held view that the main cause of the instability of the economy is the fast and frequent depreciation of the cedi against the major currencies in the world, especially the dollar.

These supporters, who are made up of some NDC communicators, serial callers and polling agents, executives of some branches, wards and constituencies and some foot soldiers, have been speaking bitterly on airwaves, at market places, drinking joints, chop bars and in public commercial vehicles and lorry stations that the economic hardship in the country is really difficult to bear.

According to them, although the Bank of Ghana (BoG) and the Ministry of Finance have instituted some measures to reduce the plights of Ghanaians, it appeared the measures were too weak to address the problems.

This prompted them to question the competencies of the Finance Minister, Seth Terkpeh and the Governor of the Central Bank, Dr Henry Kofi Wampah.

Earlier this year, as part of their efforts to shore up the cedi and halt the depreciation of the cedi, the BoG injected $20 million into critical areas of the economy. It further issued some new regulations to improve liquidity on the interbank currency market.

“I believe this new set of measures and others to follow soon are transformational and will help revamp our interbank market and stabilise the local currency,” Dr Wampah has said.

But the measures met a web of strong criticisms from economic and financial analysts. They predicted that the measures would rather drive away investors and further put pressure on the dollar on the markets.

Adding his voice was Dr Tony Aidoo. The former Director of Monitoring and Evaluation at the Presidency now the Ambassador to Scotland took a swipe at the measures, describing them as “panicky”.

“I think the measures announced by the BoG are good, but they are also panicky measures.”

The outspoken NDC stalwart held a strong view that the BoG’s measures would deal with only one side of the problem, “the demand side of the problem”.

He opined that “even if we achieve the objectives of dealing with the demand side of the problem, there is a high possibility that the objectives achieved will have a counterproductive effect on the whole situation.”

“... if you restore equilibrium by constraining demand without any measures that increase the supply, what you have created is that you have just constrained the volume or the quantum of foreign currency within a strait jacket, within the period of time the demand will rise again,” he added.

From all indications, the predictions from these analysts have come to pass and the measures have failed to yield the needed results and the living conditions in the country is rising further high.

In effect, prices of goods and services are still skyrocketing, compelling businesses to reduce labour force due to unbearable cost of production and overheads.

These diehard members of the NDC appeared to be losing confidence in the governing style of President Mahama because the suffering is taking too long to tackle.

They charged on President Mahama to step up effort to turn round the economy so as to reduce the plights of the “majority of us now”.

“We have a solid track record of good economic performance whenever we assume political power. As a political party in the country, we are known to have the ability to reduce inflation to single digit, interest rates and stabilise exchange rates.

“The former President Jerry John Rawlings and the Late President John Evans Atta Mills have done. Why is it taken you (President John Mahama) too long to halt the fast depreciation of the cedi, which is creating insecurity amongst us (NDC supporters) in the party? They queried.

Unlike other political parties who would defend anything even if it is not in the interest of the ordinary Ghanaians, we NDC supporters will kick against it, because Ghanaians matter to us.

We are proud of our party and we will not allow anyone or a group of people, not even the Founder, Jerry Rawlings and his wife, to destroy it. Well speak till the right is done.”

But the President has been speaking to the worried nation, assuring them that the situation would soon be over. “It’s just temporary.”

Editorial

BATTLE OVER 2012 ELECTORAL RESULTS, ONE YEAR ON

August 29 of every calendar year in Ghana would be remembered fervently by Ghanaians and non-Ghanaians as the date Ghana has shown to the world that multiparty democracy have come, not only to stay, but to inspire other countries particularly some African countries that are finding it difficult to embrace the ‘alien’ concept.

Friday, August 29, 2014, marked exactly one year since the Supreme Court (SC), the highest court of Ghana, gave its verdict on the 2012 election petitions filed by three leading members of the biggest opposition New Patriotic Party (NPP). They were Nana Addo Dankwa Akufo-Addo, the twice defeated NPP’s 2012 torchbearer, his running mate, Dr Mahamudu Bawumia and the defeated NPP National Chairman, Jake Otanka Obetsebi-Lamptey.

The trio, against strong opposition from other leading members of the party including Dr. Wireko Brobbey and Dr. Nyaho Nyaho Tamekloe, went to the SC to challenge the legibility of President Mahama as the victor of the 2012 elections.

They prayed to the court to overturn the results of the elections announced by the Electoral Commission (EC) declaring the candidate Mahama, the standard bearer of the National Democratic Congress (NDC), the 4th President of the 4th Republic of Ghana.

After eight months of tensed and ferociously contested legal drama over a series of electoral malpractices discovered on the elections forms called the ‘pink sheet’ the nine-panel judges led by Justice William Anam Atuguba used less than five minutes to declare President Mahama the validly elected President in the December 7 and 8, 2012 Presidential polls.

The other eight justices who sat and decided the case were Sophia Adinyira, Julius Ansah, Rose Constance Owusu, Jones Victor M. Dotse, Anin Yeboah, Paul Baffoe-Bonnie, N. S. Gbadegbe and Vida Akoto-Bamfo.

The petitioners wanted the SC to annul 3,931,339 as a result of electoral irregularities they claimed have characterised the December 7 and 8, 2012 presidential elections.

The nine judges, one of who has retired, Ms Justice Owusu after serving 25 years on the Bench and a total of 42 in public service, have given the EC some recommendations that would help improve out electoral system for future polls. One year on, the country has moved on. But, interestingly, the country’s political parties such as the NDC, the NPP, the CPP, the PNC and the rest that bored the brat of the loopholes in the electoral system have forgotten the problems suddenly and they are behaving like the proverbial ostrich that only remembers to build its nest when it is raining season.

Also, the Civil Society Organisations (CSOs), who are expected to keep government and governing institutions have gone to sleep because the presidential and parliamentary elections are over.

From the looks of things, the CSOs prefer confusions to peace so they find their voices only when the country is burning, an anticipation of donors’ supports.

We pray for their souls!

The Crystal Clear Lens, whilst commending Ghanaians for their show of maturity during the eight months period of tension and fear, we must remember that 2016 general election is almost near and the recommendations by the SC for reform must be implemented before we clash in court over another electoral dispute.

In fact, we hold the strongest view that the international communities particularly the developed ones, who have lauded our high level of tolerance and deep appreciation of the multiparty democracy, would crucify us if we head to court again for the same electoral mistakes after 2016 elections because we failed to sanitise the system.

We appeal the two major parties, the NDC and NPP, to work closely with the EC so as to avoid future elections disputes that will create panic and anxiety, resulting in the slow pace of business activities in the country.