Dr. Clement Apaak, a Member of Parliament for Builsa South, has starkly criticized the current financial trajectory of Ghana under the ruling New Patriotic Party (NPP), emphasizing the significant increase in national debt since the party took power in 2017. In a fervent plea to the electorate, Dr. Apaak called for the ousting of the NPP in upcoming elections, citing poor management and the excessive accumulation of debt which threatens the nation’s economic stability.
According to the latest data from the Bank of Ghana, the nation’s public debt has alarmingly climbed to GH₵658.6 billion as of February 2024, an increase of GH₵47.4 billion in just the first two months of the year. This figure accounts for 62.7% of Ghana’s Gross Domestic Product (GDP), with external debt alone amounting to GH₵380 billion or 36.1% of GDP.
Dr. Apaak pointed to these figures as evidence of the NPP’s mismanagement of the country’s finances. He accused the government of engaging in practices that he described as corrupt and nepotistic, asserting that these actions have not only plunged the economy into a deeper crisis but have also intensified the hardships faced by the Ghanaian people.
The legislator also revisited past criticisms made by the current Vice President, Dr. Mahamudu Bawumia, towards former President John Dramani Mahama. Before the 2016 elections, Dr. Bawumia had lambasted Mahama for his borrowing habits, questioning the developmental impact of the loans taken during his administration.
Dr. Bawumia stated, “If we had spent the money borrowed, which amounts to some $37 billion over seven years, can you imagine the transformation it could have brought to our economy? $37 billion is a significant sum. What have you accomplished? You’ve had seven years in government. What have you done? Your record should speak for itself.”
However, according to Dr. Apaak, the borrowing under the NPP administration has now exceeded the total accumulated by all previous governments combined, a situation he describes as not only ironic but also hypocritical given the past criticisms of the Vice President.
Further criticizing the current administration, Dr. Apaak argued that the funds borrowed have been misused, leading to corrupt transactions and misappropriations, rather than being channeled into productive projects that could benefit the economy and the people of Ghana.
In his call for change, Dr. Apaak advocated for the return of former President John Dramani Mahama, presenting him as the candidate capable of restoring economic stability and fostering growth. He implored Ghanaian voters to reject the NPP and consider the track record of the NDC under Mahama’s leadership, which he believes offers a more promising outlook for the country’s future.
“Reject the NPP, reject DMB. End nepotism, blatant corruption, reckless borrowing, economic mismanagement, selective justice, and misgovernance. A vote for DMB is a vote for NADAA. A vote for DMB is a vote to quadruple the current national debt. Vote for change! Vote for JDM! Vote for the NDC! The 24-hour economy is the game-changer,” Dr. Apaak passionately concluded.
This poignant plea highlights the deep divisions and the high stakes involved in Ghana’s political and economic landscape, underscoring the urgent need for fiscal responsibility and transparent governance as the country moves forward.
Source: Ghana Web
