NDC has failed – Dr. Ishaq Kyei Brobbey

A Senior Lecturer at Kumasi Technical University, Dr Ishaq Kyei Brobbey, has criticized the economic performance of the National Democratic Congress (NDC), arguing that the party has failed to achieve any significant economic success since taking office.

Speaking on the Wontumi Morning Show hosted by Oheneba Nana Asiedu, Dr Brobbey said Ghana’s financial situation has not shown any notable improvement under the NDC administration. He contrasted this with the tenure of former President Nana Addo Dankwa Akufo-Addo of the New Patriotic Party (NPP), whom he credited with implementing several initiatives he described as beneficial to the country.

According to Dr Brobbey, following the economic challenges triggered by the COVID-19 pandemic, former President Akufo-Addo made the strategic decision to engage the International Monetary Fund (IMF) to stabilize the economy. He explained that the IMF set four key conditions before granting financial support: restoring macroeconomic stability, ensuring debt sustainability, rebuilding investor confidence, and promoting economic growth.

Using an analogy to illustrate the IMF’s role, Dr Brobbey likened the institution to “a car moving on a main road that diverts into a neighbourhood, where unexpected helpers come in to assist,” emphasizing what he described as the IMF’s support to Ghana during a critical period.

He also raised concerns about current economic conditions, citing complaints from spare parts dealers who, according to him, are struggling due to reduced purchasing power. Additionally, he questioned what he described as inconsistencies in economic policy, pointing to increases in lending rates despite reductions in the policy rate.

In conclusion, Dr Ishaq Kyei Brobbey stated that Ghanaians would be in a better position to fully assess the performance of the current Finance Minister, Dr Cassiel Ato Forson, once the IMF programme comes to an end…CONTINUE MORE READING>>>