Former President John Dramani Mahama has launched a scathing attack on the Akufo-Addo administration, accusing Finance Minister Ken Ofori-Atta of reckless borrowing and financial mismanagement over the past eight years.
Speaking during his Ashanti regional tour, Mahama emphasized the negative consequences of Ofori-Atta’s tenure as finance minister, asserting that his actions have significantly contributed to Ghana’s growing debt crisis.
Mahama pointed out that one of the most controversial decisions of the Akufo-Addo government was appointing Ofori-Atta, who is the president’s brother, as the finance minister.
“Despite widespread concerns from Ghanaians about this conflict of interest, the president went ahead with the appointment. What we have seen is a minister more focused on borrowing than managing the nation’s finances,” Mahama said.
According to Mahama, Ofori-Atta’s approach to governance has primarily revolved around borrowing heavily from international creditors.
“He has been indiscriminately borrowing for the country without any clear strategy for repayment. It is clear he knows nothing about finance or how to manage a country’s economy,” Mahama added.
The former president also raised concerns over the personal connections between Ofori-Atta’s private bank, Data Bank, and the loans taken by the government.
He claimed that the finance minister’s bank has been fronting for the country’s loans while continuously taking a commission, which he described as a form of “extortion.”
Under Ofori-Atta’s stewardship, Mahama noted, Ghana had accumulated an astronomical debt of $11.5 billion in just five years, a figure that dwarfs the $3.5 billion Mahama’s administration borrowed during his tenure from 2012 to 2016. Mahama pointed out that the loans his government took were invested in key infrastructure projects such as the construction of Terminal 3 at Kotoka International Airport and the expansion of the harbor’s new terminal.
“If I had borrowed $11.5 billion during my time as president, Ghana would have been like Dubai today. The money would have been invested in transforming the country’s infrastructure and creating jobs for Ghanaians. Instead, what we have under the NPP is a massive debt burden with nothing to show for it,” Mahama said.
Mahama further criticized the Akufo-Addo administration for its inability to account for the vast sums of money borrowed. “The NPP government has squandered the resources, and now, it is Ghanaians who will have to bear the brunt of the debt,” he said, calling the current economic situation a “disaster” for the country.
By: Shadrack Odame Agyare | Metrotvonline.com | Ghana
Have a news story, press release, or opinion piece you’d like to share with our audience? We’d love to hear from you! Please reach out to us at editor@metrotvonline.com
