Goosie Tanoh, the Chairman of the National Democratic Congress (NDC) Manifesto Committee on Employment and Job Creation, has described Ghana’s current economic challenges as the most severe in recent history, surpassing the difficulties faced during the 1999-2000 crisis. Speaking on *The Point of View* with Bernard Avle on Channel One TV, Tanoh delivered a strong critique of the Akufo-Addo administration, accusing it of exacerbating systemic economic problems.
According to Tanoh, Ghana is facing a deeper economic crisis today compared to past challenges due to poor leadership and the government’s inability to implement structural reforms. He recalled the efforts of the Provisional National Defence Council (PNDC) in steering the country away from economic collapse, emphasizing that the PNDC’s policies saved Ghana from becoming a failed state.
“Back then, the PNDC laid the foundation that prevented this country from collapsing entirely,” he stated. However, he expressed concern that subsequent administrations, including the current one, have failed to address long-standing structural issues in the economy.
Tanoh criticized the government's reliance on short-term solutions like Eurobonds and external frameworks such as the G20 Common Framework and the Official Creditor Committee (OCC), highlighting that such strategies fail to tackle the root causes of the nation’s economic challenges. He argued that the debt-to-GDP ratio has reached alarming levels, with no robust mechanism in place to reverse the trend.
“What was the debt-to-GDP ratio during those times? Today, there’s no more HIPC. All we have are unsustainable mechanisms that don’t solve the real issues. Whether it’s the PNDC, NDC, or NPP, the reality is that the problems are structural,” Tanoh explained.
To address these concerns, Tanoh advocated for the implementation of the NDC’s “24-hour economy” initiative. He described it as a transformative strategy to maximize productivity by leveraging all available resources and achieving economic efficiency.
“The 24-hour economy is not just a slogan. It’s about creating efficiencies that allow for expanded productive output. It’s a benchmark for transforming our economy and addressing the inefficiencies that hold us back,” he stated.
Tanoh’s remarks come amid growing discontent among Ghanaians over the country’s economic trajectory, as public frustration mounts ahead of the 2024 general elections. The discussion has intensified debates around leadership, economic management, and the need for systemic reforms.
With Ghana’s economy under significant strain, Tanoh called for a shift from partisan blame games to actionable, long-term solutions that prioritize the welfare of citizens and sustainable development.
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