Former President of Ghana John Dramani Mahama says the Finance Minister Ken Ofori-Atta is ready to hand over a broken economy to his administration.
According to him, Ghana’s economy was broken and in tatters even before the country recorded its first COVID-19 case.
“The signs have been there that this economy has been mismanaged first by over-borrowing. Over four years he has gone to the capital market and raised over nine billion dollars and the nine billion has gone into consumption, you don’t see what it’s been used for. Normally if you go on the market and you raise money, you use a bit of it to retire your high-interest local debt but some part of it you use for projects that are tangible that transform the economy but that has not happened,” he revealed in an interview monitored by MyNewsGh.com.
He said the government owes 1.5 billion to the independent power producers who are threatening to shut this country’s power supply if they are not paid indicating that the Finance Minister has gone begging them.
“He’s just waiting to hand over a broken economy to the next administration. The economy is already broken. COVID-19 didn’t break it. The thing is if you have an economy it must have sufficient buffers and so if you say this was the best economy in Africa and he was the best finance Minister and the economy was resilient, why is it that just one pandemic and your economy is already in ICU?” he questioned in an interview monitored by MyNewsGh.com.