Grapevine

Ghana in worse economic crisis, needs people with experience to reset – Mahama

Zebilla (U/E), Aug. 5, GNA – Former President John Dramani Mahama says the current economic crisis is the worst in the history of Ghana, stressing “everything is declining under this government”.

Speaking to the chiefs and people of the Zebilla constituency at Zebilla, the National Democratic Congress (NDC) 2024 election Flagbearer, said the country needed an urgent reset which required an experienced pair of hands to do so.

“Things were not perfect under my government, but at least, we were making some progress…we have gone through crises in the past, but I must say that even though we have seen hard times, this time is probably the worst crisis ever experienced,” he lamented.

The former President who is undertaking the first phase of his 2024 election campaign tours explained that the crisis was not limited to only the economy but had extended to almost all institutions, imposing the brunt on vulnerable people.

Excessive borrowing, coupled with mismanagement of the economy leading to depreciation of the Cedi, he stated, has raised Ghana’s debt from GH₵120 billion in 2017 to GH₵750 billion in 2024, which required the domestic debt restructuring and external support from the International Monetary Fund (IMF).