Chairman of the National Democratic Congress (NDC), Johnson Asiedu Nketiah says for the first time in Ghana’s history, the country’s debt situation has become very drastic.

Speaking at the NDC’s recent press conference at the University of Professional Studies, Accra, he noted, “We are going through a draconian debt restructuring debt programme for the first time in our entire history thanks to the monumental mismanagement of the Akufo-Addo – Bawumia led NPP government. Pensioner bond holders have had to engage in a historic public manifestation. As they picketed at the Ministry of Finance.”

He mentioned that the cruel financial haircut was never before imagined as “becoming a normalized feature of this reckless regime.

All credit rating agencies have declared Ghana junk and bankrupt. Ghana has for the first time in more than half a century defaulted in its debt obligations,” he said.

He added that youth unemployment is at an all time high according to the 2020 population and housing census, and on the other hand, many businesses, banks and industries have collapsed while others have had to relocate to other countries in the sub region.

“There have been massive job losses as a result and the Bank of Ghana has gone rogue and become a lawless money printing syndicate. Corruption has reached epidemic levels as epitomized by the special Covid 19 audit which was an IMF bailout pre-condition,” he added.

He stated that President Akuffo has still refused to cut down the size of his government in spite of all the challenges.

“We have a visionless, reckless, clueless and wasteful government that has become impervious to advice, and will attack anyone who dares to advise them including members of the diplomatic community,” he added.