Every Passing Day Makes Our Economic Situation Worse – Mahama

Former President, John Mahama has once again lamented the country’s economic woes.

Mr. Mahama in a Twitter post on Tuesday noted that the economic situation is “distressing” and getting worse by the day.

The NDC flagbearer for the 2020 elections called on the government to, promptly and with eagerness, secure a programme from the IMF to stabilize the country’s economy.

“Distressing! Every passing day makes our economic situation worse. Gov’t must work with greater alacrity to lock in a programme with the Fund in order to create a more predictable economic outlook,” John Mahama tweeted on Tuesday.

Meanwhile, Rating agency, Moody’s has downgraded Ghana’s long-term issuer and senior unsecured debt ratings to CAA2 from CAA1 and placed the ratings on review for downgrade.

The rating downgrade to CAA2, it said, reflects the recent macroeconomic deterioration, further heightening the government’s liquidity and debt sustainability difficulties and increasing the risk of default.

This follows the recent downgrade of Ghana’s credit rating to ‘CC’ from ‘CCC’ by Fitch.