The increasing rate of unemployment in the country makes Ghana a “ticking time bomb”, Dr Mahamudu Bawumia, vice-presidential nominee of the opposition New Patriotic Party (NPP) has stated.

According to him, “the net result of the economic policies of the John Mahama government is the unprecedented joblessness".

Speaking at a lecture in Accra Thursday, September 8 on the state of the economy, the former Second Deputy Governor of the Bank of Ghana said graduate unemployment had reached crisis proportions with a reported 60 per cent of graduates unable to find jobs.

“The World Bank has reported that youth unemployment in Ghana stands at 48 per cent and an unemployed graduates’ association has been formed for the first time under this government,” he lamented.

Dr Bawumia accused the governing National Democratic Congress and the president of making several statements which have turned out to be untrue or contradictory.

He identified some of the untrue statements made by the government in the last eight years including: “The denial that government would ask for a bailout from the IMF; the promises to end ‘dumsor’; the promise to put cash in the pockets of Ghanaians; the denial that civil servants are likely to be laid off; the promise by President Mahama not to make any more promises,” adding: “One is no longer sure what to believe.”

According to Dr Bawumia rather than admitting their culpability for the dire situation, Mr Mahama has resorted to providing excuses.

He concluded that the crisis Ghanaians found themselves in was not due to a fall in commodity prices, but rather corruption and incompetence.