“NDC has failed Ghanaians” declares yakubu tali

The newly-elected chairman of the New Patriotic Party in Germany, Mr Alhassan Yakubu Tali has stated that the current economic crisis facing the country are largely as a result of ineffective leadership, poor management of the country’s resources and lack of a coherent economic policy.

In his first radio interview with the Stuttgart-based Sankofa fm, Mr Tali who is an Investment Banker asked how the NDC government could have turned a once vibrant economy into a failing economy in just under 5 years saying “it is amazing how the Mahama-led government has basically overturned all the strong economic gains made under the eight- year rule of President Kuffour”.

According to him as a result of the prudent economic policies pursued by the NPP government from 2001-2008, Ghana witnessed an economic growth of 3.7 % in 2001 which rose to 4.0 % in 2008 adding that in that process the size of Ghana’s economy increased six fold- from $ 5 Billion to $ 28.5

He revealed that these achievements were made possible because the then NPP government ensured strict fiscal discipline, avoided excessive borrowing and reduced the Debt to GDP ratio from 182 % in 2000 to 32% by 20008. These sound economic policies coupled with a stable exchange rate regime created an enabling environment for Ghanaian businesses to grow and thrive.

Mr Tali pointed out the economic gains made under the NPP government led to increased revenue generation which were channelled into various social intervention programmes such as the National Health Insurance Scheme, Capitation Grant, School Feeding Programme to mention just a few.

Mr Tali noted that the daily depreciation of the cedi against major currencies is a clear demonstration of the incompetence, ineptitude and lack of policy coherence that have characterised the NDC government and said praying for the cedi to appreciate, blaming it on the work of magicians (dwarfs-motianomics) or claiming that the crisis signals the end of times smacks of a government of a government that lacks the appropriate policy responses.

He concluded that Ghana can only come out of the current predicament if Ghanaians demand accountability from the leadership of the country and impress upon the failed NDC government to come out with the proper policy framework to address the problem of falling cocoa production, the dwindling investor confidence and above all cut down on excessive government spending.

Kwaku Anane-Gyinde

Germany