Current economic woes worse than 1999-2000 crisis,says Goosie Tanoh

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Goosie Tanoh, Chairman of the National Democratic Congress (NDC) Manifesto Committee on Employment and Job Creation, has strongly criticized the Akufo-Addo administration for deepening Ghana’s economic challenges.

In an appearance on The Point of View on Channel One TV with Bernard Avle, Tanoh likened the current economic crisis to the difficulties of the 1999-2000 period, claiming that the situation is even more severe today.

Tanoh praised the Provisional National Defence Council (PNDC) government for its role in preventing Ghana from collapsing during its time in power. “It saved this country from becoming a failed state,” he stated, emphasizing the critical importance of strong leadership in turbulent times.

Pointing to systemic failures, Tanoh blamed the government for its failure to address long-standing structural issues, which he argued have contributed to the ongoing economic decline. He stressed that for meaningful progress, the country must move beyond short-term solutions and focus on long-term, sustainable strategies.

His comments come amid mounting dissatisfaction with the country’s economic direction, fueling debates on leadership and economic management as Ghana approaches the 2024 general elections.

“What was the debt-to-GDP ratio in those days? There’s no more HIPC at the moment, all you have is the G20 framework, OCC and the Eurobond. The reality of the matter is that whether it is PNDC, NDC or New Patriotic Party (NPP), the problems we have are structural. And people keep saying that but they refuse to address it.”

He advocated the NDC’s 24-hour initiative as a means to revitalize the economy.

“One of the reasons why the 24-hour economy is being promoted and utilised as a benchmark for transformation is that you have to achieve the efficiencies in this economy that allow you to go and expand your productive output and the only way you do is to harness those resources.”