A Senior Lecturer at Kumasi Technical University, Dr Ishaq Kyei Brobbey, has criticised the economic performance of the National Democratic Congress (NDC), arguing that the party has failed to deliver any significant economic gains since assuming office.
Speaking in an interview, Dr Brobbey said Ghana’s economic and financial conditions have not shown any notable improvement under the current 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 initiatives he described as beneficial to the country.
According to Dr Brobbey, in response to the economic difficulties triggered by the COVID-19 pandemic, former President Akufo-Addo took a strategic decision to engage the International Monetary Fund (IMF) to help stabilise the economy. He explained that the IMF outlined four key conditions before extending financial support: restoring macroeconomic stability, ensuring debt sustainability, rebuilding investor confidence, and promoting economic growth.
To illustrate the IMF’s role, Dr Brobbey used an analogy, likening the institution to “a car travelling on a main road that diverts into a neighbourhood, where unexpected helpers come in to assist,” emphasising what he described as the IMF’s timely 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 among consumers. Additionally, he questioned what he described as inconsistencies in economic policy, pointing to rising lending rates despite recent reductions in the policy rate.
Dr Brobbey noted that Ghanaians would be better positioned to fully assess the performance of the current Finance Minister, Dr Cassiel Ato Forson, after the country completes its IMF programme.
