A United States-based Economist, Dr Sa-ad Iddrisu, has called on Ghanaians to put the ‘Agyapadie’ book/document to a duck test.
In a statement cited by Herald Network on Monday, July 29, Dr Sa-ad Iddrisu stated that the NPP under President Nana Addo and Vice President Dr. Mahamudu Bawumia have bankrupted the nation with high borrowing. “The NPP has bankrupted the country, with over 500% increase in national debt and little to zero infrastructure development across the 16 regions.
The total public debt increased from 119.9 billion GHC as of November 2016 to 742.0 billion GHC as of June 2024,” Dr. Iddrisu said.
He added that “the Bank of Ghana (BOG) continues to maintain a high monetary policy rate of 29% as of June 2024, leading to excessive borrowing costs for businesses and the continuous collapse of local enterprises. Ghana’s current policy rate is among the highest in the sub-region, severely hampering economic growth.”
Dr. Iddrisu lamented how expensive food has become in the country compared to 2016. “Data from BOG also shows that food inflation was 24% in June 2024, compared to 9.7% in December 2016,” he said.
On the Agyapadie brouhaha, Dr. Iddrisu said: “The Agyapadie book is worth reading whether you believe it’s a friction or an actual NPP Akyem mafia blueprint to capture Ghana. I am not here to suggest what to believe or not believe. However, if it looks like a duck, swims like a duck, and quacks like a duck, it is probably a duck and not a chicken ─ The duck test.”
Below is the complete release statement from Dr. Sa-ad Iddrisu:
*Monday, July 29, 2024*
*Agyapadie Controversy: The Economy Needs a Reset*
*— Dr. Sa-ad Iddrisu*
The NPP has bankrupted the country, with over 500% increase in national debt and little to zero infrastructure development across the 16 regions. The total public debt increased from 119.9 billion GHC as of November 2016 to 742.0 billion GHC as of June 2024.
Furthermore, the Bank of Ghana (BOG) continues to maintain a high monetary policy rate of 29% as of June 2024, leading to excessive borrowing costs for businesses and the continuous collapse of local enterprises. Ghana’s current policy rate is among the highest in the sub-region, severely hampering economic growth.
Data from BOG also shows that food inflation was 24% in June 2024, compared to 9.7% in December 2016.
The banking industry is collapsing, as many banks, including the Bank of Ghana, report huge losses. This government’s much-talked-about Ghana Financial Stability Fund to support the financial industry is still in limbo, with only a $250 million loan commitment from the World Bank out of the needed $1.5 billion.
Thus, with these unpleasant economic indicators from the government, what is the point of the NPP presidential candidate challenging his primary opponent, the NDC presidential candidate, to a debate on the economy? Is it just ‘Takashi’ from Dr. Bawumia?
The upcoming election presents an important opportunity for the country to address its significant economic challenges. The substantial increase in the national debt over the past several years is a considerable concern.
Voters should evaluate all candidates based on their proposed solutions to Ghana’s fiscal issues, economic development plans, and ability to govern effectively, and not based on a candidate’s religious background.
At this critical juncture in our nation’s history, we need a president who can unite the country and implement practical, evidence-based policies. This is the only way to steer the country towards sustainable economic growth. Therefore, it’s time for you as a voter to reset Ghana come December 7, 2024, and save the ‘Agyapadie’ of the country for all citizens and not for a selected tribe.
Finally, the Agyapadie book is worth reading whether you believe it’s a friction or an actual NPP Akyem mafia blueprint to capture Ghana. I am not here to suggest what to believe or not believe. However, if it looks like a duck, swims like a duck, and quacks like a duck, it is probably a duck and not a chicken ─ The duck test.
The post Agyapadie controversy: The economy needs a reset — Dr Sa-ad Iddrisu appeared first on The Herald ghana.
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