Political scientist and member of the New Patriotic Party (NPP), Dr. Richard Amoako Baah says, policies of the Akufo-Addo led government has collapsed many businesses.
The active NPP member and ardent critic of the current administration made this comment while speaking to some Kumasi audiences on Ultimate 106.9 FM.
According to him, the government actions have negatively impacted the private sector growth.
“Your mantra of pushing the private sector for growth has been eroded by recent political actions through your policies”, he said.
The former lecturer opined recent market reactions of the devalued cedi, the poor economic happenings under an NPP government which is unprecedented has now given credence to the lack of commitments to the NPP as a government that support the private sector.
Citing recent complaints by some business people in Kumasi and a leading member within the NPP government, Kennedy Ohene Agyapong having lost huge sums of money due to the bad economic crises facing the nation noted that this i9s a dent on the ideas of the NPP.
“Kennedy Agyapong was saying he has lost fifty million dollars through the devaluation of the currency, so many businessmen ruined, you didn’t buy anything is a short time all your investments is gone, if your money was not saved in dollars you are in big trouble now”, he warned.
“The sad thing is we don’t know what is coming yet, they said no haircut, but it’s facing us, they say treasury bills will not be affected, do you trust them? I fear for businesses now. They need to come to their senses and invite a lot more people on board to help, this not a one-man job. You stakeholders on board, how should we do it?.They are still downgrading Ghana today by the ratings agencies and this will continue to affect as” he noted.
The government is planning on restructuring its mounting debt as part IMF conditionality to access balance of payment support with the fund.
Source: theGhanaianvoice.com