Ato Forson, the Minority Leader of the 8th Parliament, expressed his belief that future generations of Ghanaians will evaluate the tenure of the outgoing New Patriotic Party (NPP) leadership based on its performance and decisions during its time in office. He emphasized that the National Democratic Congress (NDC) had previously raised critical concerns about the risks associated with excessive borrowing, which, unfortunately, were not heeded by the NPP government.
Forson remarked, “I trust that future stakeholders will recognize our efforts to caution against the dangers of reckless borrowing and economic mismanagement that occurred under the Akufo-Addo and Alhaji Bawumia administration.” He pointed out that data available to Parliament revealed that some government officials gained significantly from transaction advisory fees, amounting to $159.3 million, even as the nation faced challenges with public debt.
He highlighted that the NDC had consistently raised alarm about the management practices at the Bank of Ghana, which led to considerable negative equity losses for the country. Forson explained, “Consequently, by the end of 2023, the Bank of Ghana found itself in a position of policy insolvency,” adding that there were concerns about the bank’s engagement in practices to print money for government expenditures, which contributed to the rising inflation challenges.
In closing, the Minority Leader called for a closer examination of the government’s practices across various sectors, including agriculture, particularly in the cocoa industry, as well as infrastructure development, to ensure accountability and foster a more sustainable economic future for Ghana.
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