Former Deputy Minister for Youth and Sports, Joseph Yamin, has shared his views on how Ghana can salvage its declining economic situation.
Mr. Yamin believes it’s time the entire nation embarks on 40 days fast, as it is only God’s intervention that can save the country from financial and economic crisis.
According to him, it is only after the fast that the ruling government will realize the relevance of former President Mahama in reviving the country’s economy and making it right.
Moody’s downgraded Ghana’s long-term issuer and senior unsecured debt ratings to Caa1 from B3, and changed the outlook from negative to stable.
It said the new rating reflects the woes of Ghana in fixing its liquidity and debt challenges.
This rating comes not long after Fitch downgraded Ghana’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘B-‘ from ‘B’. The Outlook is Negative.
Former President John Dramani Mahama also took on the governing New Patriotic Party (NPP) over what he calls a “total collapse of the economy” after these ratings were published.
Mr. Mahama said President Nana Akufo-Addo and his head of the economic management team had failed to make pragmatic decisions aimed at salvaging Ghana’s fragile economy.
He said the government had also “resorted to unhelpful political posturing over suggestions on how to stem the downward spiral, ensure discipline, and help the economy recover.”
The former President asked the government to “create a platform for urgent and constructive dialogue among stakeholders with the view to fashioning out a robust set of policy responses to the economic challenges before we get to the point of no return.”
Sharing his position on the former President’s statement, Joseph Yamin in an interview with Don Kwabena Prah on Happy98.9FM’s Epa Hoa Daben political talk show stated, “It only takes a wise person to give this advice. The NPP needs to take the criticism from those who have been there before. They need to engage with stakeholders on the way forward.”
The politician described former President Mahama as a tried and tested leader who saw Ghana through a period of harsh economic conditions, and advised the NPP to consult him on how to salvage the economy instead of insisting on the e-levy.
Borrowing the words of the former President, Joseph Yamin stated, “Now the cartilage of the bone has also been eaten and it will take serious surgery to fix the country and the economy. We need to look at immediate measures to help us and that can only be realized if the NPP swallows its pride and listens to Mahama.”
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