Mahama economy – Adomonline.com https://www.adomonline.com Your comprehensive news portal Mon, 07 Apr 2025 08:01:09 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.2 https://www.adomonline.com/wp-content/uploads/2019/03/cropped-Adomonline140-32x32.png Mahama economy – Adomonline.com https://www.adomonline.com 32 32 Mahama needs prayers to turn Ghana’s fortunes around – Gender Minister https://www.adomonline.com/mahama-needs-prayers-to-turn-ghanas-fortunes-around-gender-minister/ Mon, 07 Apr 2025 08:01:09 +0000 https://www.adomonline.com/?p=2522390 Minister for Gender, Children and Social Protection, Naa Momo Lartey, has called for fervent prayers for President John Mahama, emphasizing the importance of divine intervention to sustain him in his leadership role.

Speaking at the 7th Regional Council Meeting of the Greater Accra East Region of the Assemblies of God Church in Shai Hills, where she was the special guest of honor, Lartey urged the congregation to offer prayers for God’s grace and favor as Mahama works to transform Ghana’s fortunes.

Lartey, who is also the Krowor MP and a member of the Assemblies of God Church, recalled the prayers offered for Mahama before his ascent to the highest office of the land, noting that the church’s prayers had been answered.

“We prayed for grace, mercies, and favor to ascend to the highest office of the land, and the Lord granted it unto us—we are now the light, and everyone is looking up to us,” she said.

She urged the church to continue praying for the President, especially for his leadership to remain strong and effective.

“It is upon all of us to hold up the hands of John Dramani Mahama so they remain raised—so that the sun will stand still, the light will shine, and the world will see that he has truly been called to lead,” Lartey added.

Praising the church’s theme for the year, “Pray Without Ceasing for Supernatural Manifestation,” Lartey highlighted the importance of continuous prayer to sustain the light needed for effective governance.

She also called for prayers for Vice President Prof. Naana Jane Opoku-Agyemang, particularly regarding her health.

General Superintendent of Assemblies of God, Ghana, Rev. Stephen Wengam, emphasized the importance of intercessory prayer for the nation, stating that while human effort is important, divine intervention is crucial.

He encouraged the congregation to contribute to national development while rejecting societal vices.

In a significant announcement, Rev. Wengam shared that Ghana would host the World Assemblies of God Congress in 2026, an event expected to boost the country’s hospitality sector and economy.

He urged state agencies and partners to support the preparations for this global gathering.

Regional Superintendent Rev. Andrews Nelson Awintia reflected on the church’s focus on making prayer central to life, stressing its role in bringing unity, peace, and economic progress to the nation.

In gratitude for the church’s continued support, Naa Momo Lartey presented GH₵100,000 from President Mahama and GH₵20,000 from herself to the church. In return, the church, led by Rev. Stephen Wengam, presented a citation in her honor.

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Assessing economy’s performance based on debts is intellectual dishonesty – Amin tells Mahama https://www.adomonline.com/assessing-economys-performance-based-on-debts-is-intellectual-dishonesty-amin-tells-mahama/ Thu, 27 Feb 2025 18:00:27 +0000 https://www.adomonline.com/?p=2509573 The former Finance Minister, Mohammed Amin Adam has dismissed claims by President John Mahama that the Akufo-Addo administration left behind a massive debt, plunging the country into crisis.

According to Dr Amin, President Mahama’s assertions do not reflect the true state of the economy inherited from the Akufo-Addo government.

His response follows President Mahama’s first State of the Nation Address (SONA) under his second term on Thursday, February 27, where he described the economy as being in crisis.

President Mahama claimed that at the end of the Akufo-Addo administration, Ghana’s debt had reached GH₵721 billion, with state-owned enterprises such as the Electricity Company of Ghana (ECG) owing GH₵68 billion and COCOBOD saddled with GH₵32 billion in debt.

The President further criticised Dr Amin’s handling of the economy, comparing its condition to a patient in an intensive care unit.

However, speaking on JoyNews’ The Pulse on Thursday, February 27, Dr Amin argued that the health of an economy cannot be assessed solely based on debt levels.

“You have liabilities and you have assets and so a basic accountant knows this basic fact that when you assess the performance of a company, you look at debts, liabilities and then you look at assets.”

“If the president was only talking about debts, then the equation is incomplete and that will be intellectual dishonesty,” he explained.

Dr Amin further attributed Ghana’s debt situation to external factors, including the COVID-19 pandemic and the Russia-Ukraine war, which significantly impacted global economies.

“Even the IMF and the World Bank have reiterated the effect of Covid and the war in Ukraine. So if you want to look at how we came by these debts, the context is very clear,” he stated.

He noted that simply mentioning debt figures was insufficient, as debt sustainability should be measured in relation to GDP.

The former Finance Minister added that while the Akufo-Addo government borrowed, it also expanded Ghana’s GDP by $20 billion over seven years.

“Twenty billion dollars is no easy achievement that you have borrowed and you have added to the size of the GDP over seven years.

“It means that we have used the money well, we have used it productively and we have used it to build the economy,” Dr Amin asserted.

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Mahama inherited a sinkhole economy in distress – Haruna Iddrisu https://www.adomonline.com/mahama-inherited-a-sinkhole-economy-in-distress-haruna-iddrisu/ Mon, 24 Feb 2025 06:50:24 +0000 https://www.adomonline.com/?p=2507749 Education Minister Haruna Iddrisu says the Mahama-led-government inherited a sinkhole economy that is in distress and needs to be reset and put on track.

He said it is only when this is done that the government would be able to invest in massive infrastructure development in the education sector to erase the deficits, especially in the second cycle schools.

He was speaking at the 72nd-anniversary grand durbar of the Keta Senior High Technical School, in Keta.

“The economy President John Mahama is inheriting is a sinkhole economy in distress that needs to be reset and put on track for him to deliver massive infrastructure support to our educational institution”, he said.

He underscored the urgent need to make available enough infrastructure to ease the deficits due to the huge numbers of students admitted to second-cycle schools as a result of the implementation of the Free Senior High School.

Mr Iddrisu indicated that the government aims to implement a robust information communication and technology program from the kindergarten to the tertiary level.

This he said is targeted at producing technologically inclined human resources to achieve total economic development.

“The President, your President, will introduce digital literacy beginning from kindergarten and send it to tertiary level and make an investment in innovation and technological hub not only in institutions of technical and secondary education but also in institutions of higher learning”, he said.

He acknowledged the challenges of the Keta Senior High Technical School, promising to give “urgent priority” attention to the fence wall project at the girl’s dormitory and sanitary facilities for both boys and girls.

He directed the Ghana Education Service to consider a request by the KETASCO old Students for their alma matter to be upgraded to category A school.

Mr Idrissu appreciated the massive support and contribution of the Volta Region to the National Democratic Congress’ victory, adding that the region would reap its labour.

“Be assured that President John Mahama will honour and reward the people of the Volta Region for standing strong and firm to give him that extraordinary mandate as President of the Republic of Ghana.

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“And that will mean, President Mahama will upscale investment in general infrastructure that is desired“, he added.

The Headmaster of KETASCO, Innocent Kwame August, made a special appeal for support to set up a modern ICT Lab after listing the lack of infrastructure and academic logistics as the main challenges of the school.

He outlined insufficient sanitary facilities for boys and girls, the absence of a fence wall around the girls’ dormitory, the absence of dining and assembly halls, inadequate academic logistics and lack of official vehicles as some challenges the school is grappling with.

The Dean of the University of Cape Coast Business School, Professor John Gatsi, stressed the need to invest in producing technologically inclined human resources to help Ghana benefit from the fourth industrial revolution.

He implored the government to invest in enhancing technological education among others to bridge the country’s generational gap.

“Education and training are the best tools to bridge the generational gap occasioned by changes in technology, value systems, politics, and life expectancy.

“Allowing the younger generation to participate in governance at various levels, including the ministerial, cabinet, Council of State, parliament, economic planning, technology, and policy committees, helps to bridge the gap because they prefer involvement over decision-making without them at the table”, he said.

The Volta Regional Minister, James Gunu, assured of an effective collaboration with all stakeholders towards the development of the region.

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Sustain economic gains, don’t play politics – Dr Amin Adam to Mahama https://www.adomonline.com/sustain-economic-gains-dont-play-politics-dr-amin-adam-to-mahama/ Fri, 07 Feb 2025 06:50:29 +0000 https://www.adomonline.com/?p=2501756 The immediate past Finance Minister expects President John Mahama’s administration to sustain the economic gains achieved in recent years rather than engage in political maneuvering.

Dr Mohammed Amin Adam, speaking on Joy News’ PM Express Business Edition on Wednesday, stressed the significant recovery of the Ghanaian economy and warned against reversing progress for political reasons.

“I do not disagree that the economy was the major issue on the ballot because we all knew that the economy was difficult,” he admitted.

“But as I explained, it wasn’t only the Ghanaian economy. Most incumbents across the world who went through elections around the same time lost, so it wasn’t peculiar to Ghana. The economy really dominated the political debate.”

The former minister defended the previous administration’s handling of the economic downturn, emphasizing that external factors were largely responsible for the crisis, not domestic mismanagement.

He pointed out that many countries faced similar challenges but commended Ghana’s resilience in bouncing back quickly.

“If you look at the data from 2022 to 2023 and then 2024, you will see that the turnaround was quick. The recovery was faster than even anticipated by the World Bank, IMF, and many economic analysts, even in Ghana,” he explained.

“We were of the view that once the economy had turned around, the recovery was swift. Conditions were improving. We were getting stability—macro stability—which is a condition for economic growth.”

Dr Amin Adam further highlighted Ghana’s ability to maintain positive growth despite undergoing debt restructuring, which typically leads to economic contractions.

“Even after doing a debt restructuring—where countries that have done restructuring usually record negative growth—we were recording an average of about 6.4% last year,” he stated.

“It just shows that the economy was turning to positive levels, which, when sustained, could really reduce the suffering and economic hardship faced by the people.”

He acknowledged that the electorate opted for change in the last election but stated that the incoming government must build on the economic foundation laid by its predecessors rather than dismantle it for political reasons.

“The Ghanaian people decided that they wanted a change, and this is why I expect the new government to sustain the gains that we have made so that they translate into tangible benefits for the people,” he said.

“But if you come in to do politics as usual, you lose the point, and you are not really able to sustain those gains. And this is what I’ve seen President Mahama doing.”

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