Prez John Mahama
President John Dramani Mahama has hit back at the running mate of the opposition New Patriotic Party Dr. Mahamudu Bawumia over his claims that Moody’s has not upgraded Ghana’s economy.
Addressing party supporters at a rally in Afienya in the Ningo Prampram constituency Wednesday,October,13, the President called on Ghanaians to reject the lies of the economist.
Dr. Bawumia at the NPP’s manifesto launch on Sunday said the President’s claim that Ghana’s economy has been upgraded by Moody’s was inaccurate.
“The recent revision of Ghana’s Outlook from B- to B- Stable, which is the equivalent of the B3, has resulted in a misinterpretation by the NDC government and President Mahama that Ghana’s credit rating has been upgraded. This is in fact not the case. Moody’s did not upgrade Ghana’s rating,” Dr. Bawumia said.
But in a response on Wednesday, President Mahama said Ghana’s cedi has been one of the best performing currencies in Africa.
“This economy is stabilizing. The international community and everybody else recognises that Ghana has bright economic prospects.
President Mahama also described NPP’s plan to transform the economy as unrealistic, saying NPP’s plan will rather ruin the country.
“When the NPP read their manifesto, it was obvious that their economic plan would destroy this economy…if you take the NPP’s economic plan, they are reducing taxes on everything; removing taxes on raw materials, reducing VAT on several items, reducing corporate income tax so when you do that you are reducing your revenue.
“If you look at that economic plan they showed Ghanaians, it is unworkable, it will ruin this economy, it will take inflation back up, it will raise interest rates and it will put us back where it just came from and so it’s the craziest economic plan I have ever heard.”