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Ghana News

Ghana Trades Union Congress laments political mismanagement of economy

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Ghana Trades Union Congress (TUC) Secretary-General, Dr. Anthony Yaw Baah, has expressed dissatisfaction over the mismanagement of Ghana’s economy by the two major political parties in the past three decades. He stated that the manifestos of both parties, which they use to govern, have slowed the country’s development.

Speaking at an ongoing discussion on pension funds organized by the labor union, Dr. Yaw Baah noted that despite political stability in Ghana over the past 30 years, the country’s economy has declined to the extent that it cannot pay its debts.

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Dr. Yaw Baah criticized both the New Patriotic Party (NPP) and the National Democratic Congress (NDC) for selling off Ghana’s assets to foreigners, leading the country to rely on debt for development. He added that Ghana’s income is among the lowest in the West African region, and the country’s debt-to-GDP ratio is high.

The government has proposed a debt exchange program that involves using pension funds, but Dr. Yaw Baah urged the labor union to reject the proposal, emphasizing that pension funds should not be used to solve a problem created by mismanagement.

In conclusion, Dr. Yaw Baah called for civil society to take up the responsibility of developing a roadmap for Ghana’s development. He stressed the need for a rethink to address the country’s economic challenges and promote sustainable development.

According to Dr. Yaw Baah, “It is time for Ghanaians to take their destiny into their own hands by demanding accountability from our leaders and charting a new course for the country’s development.”

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