Osei-Asare Refutes Mahama, Emphasizes Economic Recovery Under NPP
Former Minister Abena Osei-Asare rebuts President Mahama’s portrayal of Ghana’s economic performance, asserting that substantial recovery occurred under the NPP. She highlights strong financial indicators and criticizes Mahama’s plans for new programs without clear funding. Osei-Asare warns against excessive spending and emphasizes the need for responsible governance, urging a focus on the future rather than political grievances.
In a recent response to President John Mahama’s State of the Nation Address (SONA), Abena Osei-Asare, former Minister of State at the Finance Ministry, refuted claims of economic collapse under the previous New Patriotic Party (NPP) government. She asserted that Mahama overlooked the substantial economic recovery achieved during the NPP’s tenure, which included the attainment of a clean bill of health from the International Monetary Fund (IMF).
Ms. Osei-Asare criticized President Mahama’s portrayal of the economy as excessively negative, highlighting the significant stabilization measures implemented prior to his administration. She emphasized that while the NPP acknowledged the economic challenges faced, decisive actions were taken to restore economic stability, evidenced by the impressive growth in the financial sector.
According to Ms. Osei-Asare, the NPP left the financial sector in a strong position, contrary to Mahama’s assertions. She noted that the sector’s total assets increased dramatically, and private sector credit experienced significant growth, indicating a robust financial recovery. Furthermore, she dismissed Mahama’s claims regarding limited reserves for debt payments, citing improved Gross International Reserves despite global economic pressures.
She pointed out that the cedi remained stable, reflecting controlled depreciation in light of external economic challenges. Ms. Osei-Asare also challenged Mahama’s emphasis on previous debts, stating that the NPP had managed the economic circumstances responsibly, ensuring resources were available for the transition to the new government.
Rejecting Mahama’s claims of mismanagement, Ms. Osei-Asare highlighted notable economic growth indicators from the NPP’s administration, including an average GDP growth of 6.3% in 2024 and a surplus in total revenue targets. She suggested that Mahama failed to recognize the improvements in economic performance prior to his presidency.
Additionally, she critiqued Mahama’s ambitious social initiatives without a clear funding strategy, cautioning against excessive public spending based on past experiences leading to an IMF bailout. She stressed the importance of sustainable economic planning to maintain growing confidence in the economy before committing to large-scale social programs.
On the proposed National Economic Dialogue, Ms. Osei-Asare expressed skepticism about its intent, suggesting it was a political strategy rather than a genuine effort to consult stakeholders. She urged President Mahama to focus on implementing effective policies instead of relying on discussions that may delay decisive action.
In conclusion, Ms. Osei-Asare called for a shift from political finger-pointing to a focus on Ghana’s future, criticizing Mahama’s backward-looking rhetoric. She emphasized the need for visionary leadership to propel the nation’s progress and reiterated the NPP’s commitment to engage constructively while warning against misleading narratives and policies that undermine economic growth.
Abena Osei-Asare’s response critically addresses allegations of economic collapse under the NPP administration, asserting that the economy was stabilized through prudent measures. She underscores the importance of sustainable policies and cautious fiscal management to prevent past mistakes while calling for leadership focused on future growth rather than political blame. Her insights emphasize the necessity for responsible governance and a strong commitment to economic development as Ghana moves forward.
Original Source: www.myjoyonline.com
