Osei Akoto compared the resources that were available to the erstwhile Mahama administration and the current Akufo-Addo government and stated that the past NDC government performed better than Akufo-Addo’s regime.
“Akufo-Addo must resign like Boris Johnson,” he stated as he bemoaned the “severe hardship in the country despite borrowing heavily.”
Akufo-Addo who criticised the NDC government for seeking a bailout from the International Monetary Fund (IMF) is on a negotiation table with officials of the Bretton Woods institution on how to rescue the economy immediately as debt sustainability has become difficult.
Osei Akoto believes even under a serious crisis where economic growth slowed under Mahama, the government at the time was able to embark on a massive infrastructure drive without borrowing heavily to fund them.
“Today, corruption is at an all-time high under Akufo-Addo who has borrowed so much but has little to show for taking such gargantuan loans,” he argued.
He also pointed to the hardship in the country that has forced labour unions to demand the cost of living allowance (COLA).
Meanwhile, an international economist from John Hopkins University, USA, Professor Steve Hanke has revealed that based on exchange rate data from the free and black markets, the annual inflation rate for Ghana will be around 49.35%.