Godwin Mahama is a member of the communications team of the NDC
Ghana's economic foundation was solid with major and renowned rating agencies including the World Bank predicting positive economic growth in the years subsequent to 2016.
Such economy was handed over to Nana Akufo Addo and his Veep, Alhaji Bawumia government. All resources were available to them including the annual GHC3 billion ESLA, the Ghana Infrastructure Development fund, GETFund, Stabilisation Fund, revenue from the three (3) oil fields; Sankofa (ENI), Jubilee and TEN (Tweneboah, Enyenra, Ntomme)fields which produce about 170 thousand barrels of oil a day, amounting to about GHC500billion revenue accrued to this government from 2017 to date.
We are where we are today not because of anything, but due to a lack of common sense, mismanagement, and misplaced priority by the government of the day.
We are told today by the information minister, Kojo Oppong Nkrumah that IMF is likely to give Ghana between $ 2 billion to $3 billion.
In 2017, the government spent GHC 25billion in the name of the banking sector clean up which needed GHC 9 billion to survive.
Today, a dollar is around GHC8.00. Let's take the median of $2billion and $3billion being $2.5billion to be the amount Ghana is likely to get from IMF and multiply by the current exchange rate ($ 2.5billion*GHC 8=GHC 20billion).
So the $ 2.5billion IMF is likely to give Ghana is equivalent to GHC 20billion but in the name of banking sector clean-up, the so called Competent government managed to spend Gh25billion to collapse indigenous banks in 2017.
https://www.ghanaweb.com/GhanaHomePage/business/Over-GH-25-billion-spent-on-banking-sector-clean-up-exercise-Finance-Minister-1499375
Aside the amount spent to collapse the Banks, have we taken the pain to consider the number of people who are now unemployed due to these unreasonable steps the government took and to quantify that in monetary terms?
This is the havoc the government has caused the nation.
With this simple banking sector clean-up analysis, why will any Ghanaian believe we are going to IMF today because of Russia Ukraine or COVID-19 Pandemic?
This Nana Addo/Alhaji Bawumia government came to mismanage 'steal, kill and destroy' as quoted in the holy bible, King James Versions John 10:10.
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