Akufo-Addo’s ‘junk economy’ driving away investors – Sammy Gyamfi

The National Communication Officer for NDC, Sammy Gyamfi, has stated that the current state of Ghana’s economy cannot be used to access any form of loan facility.

Speaking on GHOneTV Tuesday, the Communication Officer disclosed that the current administration has mismanaged the economy which has contributed to the hardship in the country.

“An economy which has a debt to GDP ratio of 56% was a bad economy. But what you have today where the debt to GDP is 83% is a good economy. Even when we joined the HIPC program some time in 2001-2 our debt to GDP was not as high as it is today. The debt to GDP was in the 70 percent, we have not close the HIPC mark,” Mr. Gyamfi said.

The National Youth Authority (NYA) boss, Pius Hadzide who was also on the show with Mr. Gyamfi disclosed that NDC administration had the worst economy ever in Ghana.

He noted that President Akufo-Addo is not adamant with the prevailing economic situation and will fix it to ameliorate the difficulties Ghanaians are going through.

But, the NDC National Communication Officer disagrees.

According to him, the rate at which the International Rating Agencies are downgrading Ghana does not make the economy attractive to investors on the capital market.

“Since when in the history of this country have you seen Fitch downgrading Ghana with B-, “it never happened not even when we were in HIPC.”

“We cannot even go and issue Eurobonds on the capital market. Nobody is interested in our junk economy and this is an economy you want us to celebrate,” he quizzed.

Mr. Gyamfi pointed out that the NDC government left a better economy and huge reserves for the payment of worker’s salaries among others.

Source: Starrfm.com.gh