Mahama accuses NPP of pushing Ghanaians into debt and economic hardship

The Presidential Candidate of the National Democratic Congress (NDC), John Dramani Mahama says the governing New Patriotic Party (NPP) has pushed many Ghanaians into poverty through “reckless” borrowing and economic mismanagement. 

Speaking at a rally at Kasoa in the Awutu Senya East Constituency of the Central Region on Friday, Mr Mahama said a recent complaint by the CEO of Mikado, Dr Michael Agyekum Addo [KAMA] who said he was struggling financially due to the government's debt exchange programme and his eventual death last week was one of the examples that the government has pushed many into debt.

Mr Mahama emphasised that the debt exchange programme, necessitated by the government's $11.5 billion overborrowing, had devastating effects on many citizens, including the CEO of Mikado, who lost his life savings and eventually passed away. 

Mr Mahama told the crowd that the heartbreaking incident underscores the broader struggle faced by numerous Ghanaians under the current administration.

“Before then, the man had come out to speak about the debt exchange programme which only became necessary due to the government’s reckless borrowing. 

“The man said his life savings had been affected by the exchange and the man was crying on TV that he was going through hardship and just last week he died,” Mr Mahama said. 

Mr Mahama contrasted the current economic woes with the gradual development achieved during his tenure. 

Citing Kasoa as an example, he noted the construction of interchanges, schools, and lorry stations, which transformed the town and created opportunities. 

"In 2016, I wouldn't say all was rosy, but it was better than now," he stated.

He assured the crowd of better days under an NDC government, stating that the NDC aims to revitalise the economy through investments in agriculture, manufacturing, and the creative economy, as outlined in their 2024 manifesto. 

Mr Mahama said the next NDC administration was bent implementing a 24-hour economy for business development, growth, and job creation.

During their previous term, he said the NDC focused on building infrastructure, including roads, power generation, ports, hospitals, schools, and tertiary education institutions. 

This foundation, Mr Mahama argues, will support Ghana's economic resurgence.

He said throughout his interactions with citizens across the country, he had been told of the urgent need for economic reform and responsible governance to alleviate the suffering of ordinary Ghanaians.