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22 February 2017

I don’t trust IMF data, they met Bawumia privately under Mahama – Avedzi

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The Deputy Minority leader says he would not “trust” statistics about Ghana’s economy churned out by the International Monetary Fund (IMF) because they are compromised.

James Klutsey Avedzi claimed the Britton Wood institution has been holding meetings with now Vice President Dr Mahamudu Bawumia to verify the facts about the country’s economy under erstwhile President John Mahama.

Speaking to Evans Mensah, host of Joy FM’s Top Story programme Tuesday, the Ketu North Member of Parliament (MP) said he would trust the Ghana Statistical Services (GSS) than to latch on the IMF figures about the country.

President Nana Addo Dankwa Akufo-Addo has said by the end of 2016, Ghana’s debt stock had risen to GH¢122 billion representing about 74 percent of Gross Domestic Product (GDP) despite the denials by the Mahama-led government.

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Vice President Dr Mahamudu Bawumia

He was emphatic that more debt was accumulated by the previous National Democratic Congress (NDC) government than all other governments put together since independence.

“In fact, 92% of Ghana’s total debt stock was incurred in the last eight years under the previous government,” he said, adding the interest costs on the debt has also increased estimated to be GH¢14.1 billion in 2017.

He also said the former President could not meet all the targets under the IMF programme as at December 2016.

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Former President John Mahama

“Fiscal indiscipline, once again, reared its head in the 2016 election year. Total projected expenditure for 2016 was GH¢43.9 billion (26% of GDP), but actual expenditure amounted to GH¢50.3 billion (30.2% of GDP),” he said.

President Akufo-Addo added the total revenue target set for 2016 estimated at GH¢37.9 billion (22.7% of GDP) rather ended up with GH¢33.2 billion (19.9% of GDP).

But NDC MPs have registered their disappointment in what they described as the “pick and choose” manner the President used figures about the economy.

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President Nana Addo Dankwa Akufo-Addo

Mr Avedzi disagreed with President Akufo-Addo on GH¢122 billion public debts accumulated under the NDC government saying it is a nominal figure that does not create the full picture of the situation.

Nonetheless, he said what should have attracted the attention of the President is what the loans contracted under former President Mahama were used for.

He said the NDC MPs would come out with a statement about the true State of the Nation Address which will touch on their achievements in the coming days.

 

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