The flagbrearer of the opposition New Patriotic Party, Nana Addo Dankwa Akufo-Addo has stated that the Mahama-led administration has borrowed over US$37 billion in seven years, more than any government since Dr. Kwame Nkrumah, Ghana’s first president.
“In dollar terms, this NDC Government has borrowed some US$37 billion in seven years,” Akufo-Addo said during his delivery of the ‘Real State of the Nation’ address at the Physicians and Surgeons College in Accra Monday.
Painting a gloomy picture of Ghana’s economy, Akufo-Addo said “Ghana is now at a high risk of debt distress,” adding that “Government increased the debt stock from GHc9.5 (2008) to GHc99B currently.”
According to Akufo-Addo, President Mahama failed to tell Ghanaians the real state of the nation and rather chose to tell “fairytales” during his three-hour address to the nation last Thursday.
Effect of Dumsor
Akufo-Addo also stated that Ghana lost over 3 billion dollars due to the power crisis that bedeviled the country some four years ago.
“The four years of dumsor have cumulatively led to financial losses of more than $3 Billion, and thousands of lost jobs”.
According to Akufo-Addo, several companies and factories had to lay off workers due to the debilitating effects of the power crisis, adding that the president deserves no commendation for solving a problem it created.
“Coca-Cola, Mantrac, Cadbury, Novotel, Golden Tulip and several others have been forced by the cost of dumsor to lay off workers…
“The President wants credit for resolving dumsor. How can you expect credit for resolving a problem you caused? And at a high cost?,” Akufo-Addo said.