NDC will ensure ‘some rogue’ finance minister does not borrow anyhow – John Mahama

The Flagbearer of the National Democratic Congress, John Dramani, has highlighted some major reforms his party has in place to help restore Ghana’s economy.

According to him, the economy has been plagued with various issues including high cost of living, exchange rate volatility, and high inflation rates.

Therefore, according to John Mahama, the NDC has outlined certain policy measures that will be adopted should they return to power.

He said these policies were to stop the steep decline in the economy.

The flagbearer was speaking during an engagement between the Trades Union Congress and the National Democratic Congress on November 7, 2023.

He said these measures include “Reducing the public debt by placing a moratorium on non-concessional borrowing. Actively seeking concessional funding and grants and reviewing the legislation to limit the of non-core activities of state-owned enterprises.”

John Mahama said this would create adequate fiscal space for the economy.

“Pursue our bilateral and multilateral partners for more financing and grants. Implement infrastructure projects that are self-financing and not a burden on the public debt. Limit the Central Bank financing of government, as we did in 2016, zero financing of the government and also reform the Bank of Ghana,” he added.

“Set a cap so that some 'rogue' reckless finance minister does not come and borrow anyhow,” John Mahama said.

SSD/NOQ

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