Felix Kwakye Ofosu, the Parliamentary Candidate for Abura Asebu-Kwamankese, has stressed the urgent need for a comprehensive reset of Ghana due to the dire state of the country's economy.
Speaking on "The Point of View" on Channel One TV on Wednesday, Kwakye Ofosu highlighted several pressing challenges facing the nation, including high inflation, a depreciating currency, and the rising cost of living.
He argued that these factors have severely weakened the purchasing power of Ghanaians, leading to widespread economic hardship.
Explaining why the National Democratic Congress (NDC) is focused on resetting the country if it wins the December elections, Kwakye Ofosu said, "The theme of the manifesto which is dominated by the desire to reset our country is absolutely necessary because of the state of affairs currently. "Our economy has simply been devastated.
Today we are in the midst of the harshest economic climate perhaps in our history.
As I speak to you Ghana has defaulted on its debts.
We simply are unable to pay our debts.
We've become a source of mockery.
As I speak to you today the exchange rate is GH16.6 to a dollar." "What that means is that if you are a businessman or in your everyday life you need to transact foreign exchange you are going to pay far more than you used to pay under the NDC.
Today interest rates have gone through the roof.
Today our public debt is not manageable."