Posted: Friday 14th February 2014 at 8:00 am

Same Old Faces From Rawlings & Mills’ Era At The Helm Of Affairs….That’s Why Mahama Has Failed

An aspiring National Youth Organizer of the opposition New Patriotic Party (NPP) has stated that the economic woes of the country is due to the fact that the Mahama-led NDC Administration is repeating the policies and programs used by the Rawlings Administration which nearly lead to the collapse of the economy.

According to Michael Ampong aka ‘Gyagbele’, a lot of people knew that President Mahama would not perform to expectation not because they wish the downfall of the President, but because of the fact that most of the people running the show as far as the economy is concerned now, were in the helms of affairs during the President Rawlings’ era.

“….Right from the Mills-Mahama Administration which later turned to Mahama-Amissah Arthur Administration, some of us have raised doubts about their ability to perform, in terms of managing the economy. Not because we are pessimistic and not because we wish them bad but checking from their previous experience the gentlemen involved were all part of the last NDC administration under whose watch the economy was woefully managed,” he asserted in an exclusive interview with PEACEFMONLINE.

He added that, the claim of achieving single digit inflation by the Mills-Mahama administration was not a true reflection of the state of economic affairs and can be likened to the Rawlings Administration’s manipulation of economic figures which later lead to a $35 million fine by the International Monitory Fund (IMF).

Michael Ampong, who is on the campaign trail canvassing for the votes of delegates, in his bid to lead the youth wing of the NPP, made this comment come on the back of the revised rules rolled out by the Bank of Ghana governing the operations of Foreign Exchange and Foreign Currency Accounts in the country in a frantic move to arrest the rapid depreciation of the cedi. The revision of the rules saw the abolishing of cheques or cheque books in foreign exchange accounts and foreign currency accounts.

According to the new rules, cash withdrawals over the counter from foreign exchange accounts and foreign currency accounts shall only be permitted for travel purposes outside Ghana and shall not exceed US$10,000.00 or its equivalent in convertible foreign currency, per person, per travel.
However, he believes this directive is a knee jerk measure which will not have a long term effect. Gyagbele further called on the government to have the courage to look beyond the ruling NDC by inviting knowledgeable people to help put the economy on track.

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