A national youth organizer aspirant of the National Democratic Congress (NDC), Prince Kassim Alubankudi,\u00a0has said Ghana’s economic challenges have been in existence for decades, therefore, it is unfair to blame the Mahama-led administration for the current crisis.<\/p>\n
He claimed that President John Mahama inherited an economy riddled with serious challenges but ongoing efforts aimed at reviving the economy must be commended.<\/p>\n
\u201cThe economic problems we have are enormous, they are very, very challenging. It\u2019s a Ghanaain problem but those problems were not created overnight.These are decades-old problems that have recurred every now and then,\u201d he remarked.<\/p>\n
[contextly_sidebar id=”4GLOJ9ActD04j7fEQaoka6dDg2XadM29″]The Mahama administration has been accused of poorly managing the affairs of the nation which has forced it to seek a bailout from the International Monetary Fund (IMF).<\/p>\n
Ghana has over the past few years been saddled with socio-economic challenges including the rapid depreciation of the Ghana cedi against major trading currencies, high inflation rates, rising budget deficit, erratic power and water supply which has adversely affected local industries, rising cost of petroleum products, among others.<\/p>\n
Although the Central Bank instituted some measures to forestall the cedi depreciation and stabilize the economy, it was forced to withdraw the measures which according to industry players, were further weakening the economy and the national currency.<\/p>\n
Government’s decision to turn to the IMF for a bailout programme has also received mixed reactions from various stakeholders but government officials and the President have defended the decision saying, it is aimed at seeking fiscal balance and economic reforms.<\/strong><\/span><\/a><\/p>\n Speaking on\u00a0Citi FM\u2019s<\/strong>\u00a0Point Blank<\/strong>\u00a0segment on\u00a0Eyewitness News,\u00a0<\/strong>Alubakundi urged Ghanaians not to be skeptical about the ongoing talks with the IMF.<\/p>\n \u201cWe are not begging the IMF to come in, we are seeking international support to ensure that the home grown\u00a0 economic policies are effective,\u201d he said.<\/p>\n <\/p>\n By: Marian Efe Ansah\/citifmonline.com\/Ghana
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