The National Democratic Congress (NDC) flagbearer, John Mahama, has stated that the precarious economic situation in Ghana would persist until the New Patriotic Party (NPP) is voted out of office.
According to the former president, the International Monetary Fund’s $600 million released to the government should reduce the burden on the masses, but this is unlikely to happen because the NPP administration is unconcerned about Ghanaians’ predicament.
“Under normal circumstances, the release of $600 million by the International Monetary Fund (IMF) to the government of Ghana should provide relief to the already overburdened and suffering Ghanaian. It is, however, evident that Ghanaians will continue to suffer as long as the Akufo-Addo-Bawumia and NPP remain in office,” he wrote in a Facebook post.
His statement comes after the second tranche of the IMF bailout, which was approved by the Executive Board on January 19, 2024, following Ghana’s successful completion of the 2023 Article IV consultation.
Mr. Mahama emphasized the possible impact of the upcoming Value-Added Tax (VAT) on power use, warning that it might raise rates, resulting in increased prices for products, services, and transportation.
“Implementing VAT on electricity consumption will increase tariffs by almost 21% and exacerbate the hardship on Ghanaians. This will affect the prices of goods, services, and transport fares. I agree with organized labor that the government must reverse its decision to start collecting VAT on electricity consumption,” John Mahama said.
He assured that the next NDC government under his leadership in 2025 will bring respite to all Ghanaians.
“The National Democratic Congress (NDC) is eager and ready to address Ghana’s economic challenges and provide substantial relief to Ghanaians upon assumption of office in January 2025,” he said.
Find his Facebook post below
Under normal circumstances, the release of $600 million by the International Monetary Fund (IMF) to the government of Ghana should provide relief to the already overburdened and suffering Ghanaian.
It is, however, evident that Ghanaians will continue to suffer as long as the Akufo-Addo-Bawumia and NPP remain in office.
Implementing VAT on electricity consumption will increase tariffs by almost 21% and exacerbate the hardship on Ghanaians. This will affect the prices of goods, services, and transport fares.
I agree with organized labour that the government must reverse its decision to start collecting VAT on electricity consumption.
The National Democratic Congress (NDC) is eager and ready to address Ghana’s economic challenges and provide substantial relief to Ghanaians upon assumption of office in January 2025.
Before that, I again urge the outgoing NPP government to be cautious, responsible, and judicious in utilizing the IMF $600 million and other funds that may be made available to Ghana from the World Bank and other development partners.
I have already encouraged the NDC minority in parliament to ensure strict oversight on both the government and not to take their eyes off the Bank of Ghana that illegally printed billions of cedis and aggravated our economic situation.
On my part, I will, from time to time, continue to engage the Ghanaian public about my vision to build the Ghana we want and how we will work together to create well-paying jobs through my 24-hour economy policy and other pragmatic initiatives.
Over the next three days, I will be in the Ashanti Region to interact and listen on the eighth leg of my #BuildingGhanaTour.