Economic downturn is caused by bad government policies- John Mahama

Former president John Dramani Mahama has criticized Kristalina Georgieva, managing director of the International Monetary Fund (IMF), for her assessment of the state of the Ghanaian economy at the moment.

According to Mr. Mahama, it was “incontrovertible” that the “bad policies” of the government had caused the economic slump, despite the fact that it was consoling to hear Madam Georgieva “reaffirm the commitment of the IMF to support the people of Ghana in these perilous times.”

He claimed that in order to comprehend the dire state of the Ghanaian economy, it was necessary to take into account policies like “the botched, insensitive, and dubious cost of closing down locally owned banks, unchecked levels of corruption and lack of accountability, including the mismanagement of COVID-19 funds, unconventional borrowing practices riddled with opaqueness and conflicts of interest, resulting in an unsustainable debt envelope, costly, experimental, and untested programs.”

He claimed that if the IMF and other international diplomats ignored these considerations, they may “make an incorrect diagnosis and propose improper cures.”

High-ranking officials should respect the custom in international diplomacy to keep their tongues firmly in the sand and base their remarks on facts that take into account local circumstances and opinions, Mr. Mahama wrote on Facebook.

“The incontrovertible fact is that Ghana is in a mess due to the BAD POLICIES of this government, which have contributed massively to the dire state of affairs.

“International diplomats must consider these facts and not just ignore them; lest they make wrong diagnosis and prescribe inappropriate remedies”.

He further advised international diplomats to reflect local realities when speaking about the Ghanaian economy.

“The Ghanaian economy must be managed first for the Ghanaian who lives and experiences it daily, not just for an international audience”.

He also counselled foreign ambassadors to discuss the Ghanaian economy in terms of local realities.

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“It is a relief to hear Madam Kristina Grigoreva reaffirm the commitment of the IMF to support the people of” Ghana in these perilous times.

“Ghanaians are undeserving of the uncertainty and hardship resulting from the ineptness of the Nana Akufo-Addo administration that has contributed massively to this mess.”

“While the norm in international diplomacy of being guarded in what one says is appreciated, comments by high ranking officials must be grounded on facts that take into consideration local realities and opinions.”

“The incontrovertible fact is that, Ghana is in a mess due to the BAD POLICIES of this government, which have contributed massively to the dire state of affairs.”

International diplomats must consider these facts and not just ignore them; lest they make wrong diagnosis and prescribe inappropriate remedies.”

“The consequences of the government’s ill-advice policies such as the botched, insensitive and dubious cost in closing down locally owned banks, unbridled levels of corruption and lack of accountability including the mismanagement of COVID-19 funds, unconventional borrowing practices riddled with opaqueness and conflicts of interest, resulting in an unsustainable debt envelope, costly, experimental and untested programmes, etc., cannot be ignored in understanding the current dire state of the Ghanaian Economy.”

“Therefore, the rhetoric that emanates from international diplomats must reflect local realities. The Ghanaian economy must be managed first for the Ghanaian who lives and experiences it daily, not just for an international audience.”