General News Fri, 7 Oct 2016

Where is the economic crisis? - Mahama asks Akufo-Addo

President John Mahama says the constant refrain by his political opponents that his government has plunged the economy into a crisis is nothing but vile propaganda.

Mahama said it is only the opposition that can see a crisis, with his government's management of the economy, endorsed as prudent by the international community.

The president who is on the campaign trail in the Brong Ahafo Region indicated that the facts on the ground do not support that opposition's propaganda-driven narrative.

According to him, if the international community believed the country was in an economic crisis, it would not advance GH¢4 billion to government requesting only GH¢750 million in Eurobond subscription.

The over-subscription of that Eurobond, he maintained shows evidence of international confidence in his government's commitment to fiscal discipline.

"...when somebody sits and says the economy is in a crisis you fail to understand where he is seeing that crisis. He probably has some lens that sees crisis where crisis does not exist.


"Why would you give a country in crisis GH¢4 billion and so it gives a lie to the propaganda people try to put out that this country is in crisis", he said in an address at the University of Energy and Natural Resources community on day-four of his campaign tour.

Providing further evidence of the progress the 2016 National Democratic Congress (NDC) flagbearer says the opposition deliberately ignoring the latest Moody's report which favourably rated the country's economic health.

Ghana's economy had a B3/Negative rating since 2015 until the rating agency, Moody’s revised it from negative to stable last month.

"We have fought to try and restore confidence in the economy," the president hailed his government's efforts.

Questioning the patriotism of some political parties, President Mahama wondered why the New Patriotic Party (NPP) and other parties would be gleeful about the challenges the economy faced under his tenure.

"I don't know how you can be happy when your economy is being downgraded. I mean don't you have a sense of patriotism?" he quizzed.


The president observed that even after the Moody's report, his opponents are still living in denial about the efforts of his government.

"They were happy when we were being downgraded now the same moody's upgrades us and an opposition leader says Moody's does not know what it is talking about," President Mahama said.

Urging the opposition to swallow their pride and admit to progress, President Mahama said "how can you eat your cake and have it? We can't have double standards.

Source: Myjoyonline.com
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