Development Economist and Head of Research at the Danquah Institute, Dr. Frank Bannor, has emphasized that the opposition NDC\u2019s flagbearer John Mahama\u2019s economic track record does not provide a solid foundation for any proposed reset of Ghana\u2019s economy, nor does his past performance align with the aspirations for significant economic growth and development.<\/p>\n\n\n\n
In an interview on Monday, October 28, 2024,<\/em>\u00a0Dr. Bannor said the former president\u2019s economic achievements should not be viewed as a stepping stone for ambitious growth plans. He further indicated that the narrative surrounding Mahama\u2019s tenure lacks the glamour often associated with successful leadership in economic transformation.<\/p>\n\n\n\n \u201cWhen we look at the figures, it\u2019s clear that Mahama\u2019s track record of economic growth is not glamorous. The economic growth rate in 2016 under Mahama stood at a mere 3.4%, the lowest in two decades. Under his administration, with all other macroeconomic indicators pointing in the wrong direction, it is simply not feasible to suggest that he can reset Ghana and put it on a higher growth trajectory should he be given the nod again to lead the country,\u201d he added.<\/p>\n\n\n\n Mahama\u2019s record<\/p>\n\n\n\n Dr. Bannor further noted that when Mahama left office, inflation had soared to 15.4%, a statistic corroborated by the last available data from the Ghana Statistical Service. This was without the world experiencing any pandemic or war. In stark contrast, he highlighted that the current administration under President Nana Akufo-Addo managed to reduce inflation to 7.9% as of September 2019. \u201cThese statistics are indicative of what many consider economic mismanagement during Mahama\u2019s tenure,\u201d he asserted.<\/p>\n\n\n\n He also recalled the significant challenges faced by Ghanaians during Mahama\u2019s administration, particularly the four years of persistent power outages known as \u2018Dumsor\u2019. \u201cWe endured \u2018Dumsor\u2019 for four years, leading to the destruction of industries and livelihoods. People died because of these power outages. The National Health Service virtually collapsed, and the ambulance services were nearly non-functional,\u201d Dr. Bannor stated.<\/p>\n\n\n\n He highlighted that unemployment rates surged, GDP declined, and industrial growth stagnated during this period, contributing to a banking sector on the brink of collapse.<\/p>\n\n\n\n