The flagbearer of the opposition National Democratic Congress (NDC), John Dramani Mahama, has cautioned the Akufo-Addo/Bawumia government to judiciously utilise the US$600 million second tranche of the IMF money and the US$300 million development funds approved by the World Bank for Ghana.
The Bank of Ghana (BoG) acknowledged receipt of US$600 million as the second tranche of Ghana’s bailout package with the International Monetary Fund (IMF) yesterday [January 23, 2024].
In a post on Facebook, the NDC 2024 presidential candidate wrote, “The National Democratic Congress (NDC) is eager and ready to address Ghana’s economic challenges and provide substantial relief to Ghanaians upon assumption of office in January 2025.
“Before that, I again urge the outgoing NPP government to be cautious, responsible, and judicious in utilising the IMF $600 million and other funds that may be made available to Ghana from the World Bank and other development partners,” he added.
Mr. Mahama also waded into the government’s controversial 15% VAT on electricity consumption, agreeing with the labour unions on their call to reject the tax measure as this will increase the hardships brought on Ghanaians by the NPP government.
“Implementing VAT on electricity consumption will increase tariffs by almost 21% and exacerbate the hardship on Ghanaians. This will affect the prices of goods, services, and transport fares. I agree with organised labour that the government must reverse its decision to start collecting VAT on electricity consumption.”
The former President and leader of the NDC also noted that he has already encouraged the “NDC minority in parliament to ensure strict oversight on both the government” and not to “take their eyes off the Bank of Ghana that illegally printed billions of cedis and aggravated our economic situation.”
Mr. Mahama was of the view that the IMF relief package would not provide Ghanaians with the necessary respite due to the untold economic difficulties the country is facing. He touted his 24-hour economic policy to revitalise Ghana’s economic conditions and provide well-paying jobs to Ghanaians.
“Under normal circumstances, the release of $600 million by the International Monetary Fund (IMF) to the government of Ghana should provide relief to the already overburdened and suffering Ghanaians. It is, however, evident that Ghanaians will continue to suffer as long as the Akufo-Addo-Bawumia and NPP remain in office.
“I will, from time to time, continue to engage the Ghanaian public about my vision to build the Ghana we want and how we will work together to create well-paying jobs through my 24-hour economy policy and other pragmatic initiatives,” Mr. Mahama wrote.
RELATED ARTICLES:
- $3bn IMF bailout: We’ve met the targets; that is not surprising to me – Peter Quartey
- IMF Bailout: Government reaches agreement with official creditors
- I’ll outline a comprehensive economic policy beyond the 24hr economy by January 2024 – John Mahama