DEBATING THEM IN THEIR OWN COMFORT ZONE – NDC AND THE SO CALLED MASSIVE INFRASTRUCTURE DEVELOPMENT

 

DEBATING THEM IN THEIR OWN COMFORT ZONE – NDC AND THE SO CALLED MASSIVE INFRASTRUCTURE DEVELOPMENT 

IDDI MUHAYU-DEEN’S FOLDER

The governing NDC has not run away from the fact that they’ve performed abysmally in the management of the Ghanaian economy. Rightly so, because as we speak, almost all our economic indicators including the almighty exchange rate, inflation, interest rate, growth rate and the likes have all assumed a worrying outlook. For instance, the Ghanaian cedi, which is the primary economic indicator or fulcrum around which our entire economy revolves has witnessed its worst performance under the NDC, having depreciated by some 250% [ie from GH¢1.2 in 2009 to GH¢3.9 as at date] in the past 8 years. 

   

Whereas in the entire 8 years of the NPP rule, the cedi depreciated accumulatively by only 54% (ie from GH¢0.72 in 2000 to GH¢1.2 in 2008). Indeed, evidence of the true state of the Ghanaian economy, can be felt in our everyday lives, in the markets, in our residences, in the workplaces, in the streets and the industries where the cost of doing business has skyrocketed, impacting negatively on employment in both the formal and the informal sectors.

It is for this reason that the NDC’s campaign message for the 2016 elections does not focus on the economy but infrastructure development, which is their foremost trump card in this electioneering campaign. This is in spite of the fact that President Mahama himself, is on record to have said that any government that touts its performance in infrastructure development is only engaged in an exercise in mediocrity because putting up infrastructure is the PRIMARY RESPONSIBILITY of every government and has been the case from the days of Nkrumah.

I would nonetheless, want us to subject their claim of ‘massive infrastructure development’ to scientific scrutiny. In this discussion however, we must bear in mind that, “he who much is given, much is expected”, in the words of President Mahama. Whereas the erstwhile NPP government, in their entire 8 years, used only GHc20 billion to stabilize the Ghanaian economy, moved Ghana from HIPC to Middle Income country, rolled out significant infrastructure projects and implemented not less than 21 social intervention programmes, in the case of the NDC, we are talking about as much as GHc248 billion in the past 8 years. 

Also, whereas the NPP government borrowed less than $4.1 billion throughout the 8 years, this Mahama NDC government has borrowed as much as $38 billion in the past 8 years, which is more than the entire debt stock of Ghana from 1957 to 2008, which stood at only $9.3 billion. In other words, the NDC in just 8 years, has more than quadrupled all the money that all governments in the history of Ghana had borrowed from the days of Nkrumah up to 2008. This government has borrowed and continue to borrow as if tomorrow will never come. 

The most worrying thing is that they use our natural resources including our oil as COLLATERAL for these loans, which are procured at some outrageous interest rates. They care very little about our future or the next generation. In fact, they have essentially mortgaged our future for loans that they chop today. You and I are going to be saddled with so much indebtedness in the foreseeable future, which is certainly UNFAIR. The most annoying thing is that when they borrow these monies at such outrageous interest rates, they misappropriate the money as over 71% of same goes into their individual pockets through various CORRUPT PRACTICES. 

For instance, when the Minority in Parliament recently challenged government to come clear on the list of all the developmental projects it had executed and government obliged, an independent audit was conducted on these projects. Surprisingly, the entire cost of all the so called massive and unprecedented developmental projects including the circle and kasoa interchanges, the eastern corridor roads, the schools and the health facilities was a little above $4.1 billion. Meanwhile, this is a government that has borrowed more than $38 billion aside the several killer taxes and oil revenue that had accrued to the government.  

Certainly, the figures do not add up at all and the only reason that account for this humongous variance is the over bloating of contract cost which smacks of corruption, corruption and more corruption. In any case, why must this Mahama government borrow at such expensive interest rates before they are able to execute any major project in this country? Kufour and the erstwhile government got us the almighty George Walker Bush Highway (N1) free of charge. But this government has to borrow for everything. 

If governance is all about ‘borrow, build and take credit’, then my grandmother in Kete-Krachi, who hasn’t been to school can rule this country more effectively than John Mahama. At least, with her, I’m confident that she won’t chop our money by tripling and quadrupling the cost of contracts as we see every day under the Presidency of John Mahama. And to think that this is the primary reason why this NDC government want Ghanaians to vote for them come tomorrow, makes me sick. CHANGE is surely what we need in order to move this country forward and in the right direction.

Assalamu alaikum

This piece was compiled by a concerned Ghanaian in the service of OCCUPYING HEARTS and MINDS for the love of God and country.

IDDI MUHAYU-DEEN

A Crusader for CHANGE

(0245335197)

                             

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