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Ghana, over the past two decades, has done fairly well in its democratization agenda. The country has evolved into a stable and mature force, democratically, making it the envy of its West African neighbours and beyond. The same, however, cannot be said of the strides it has made economically.

The country has performed abyssmally since the National Democratic Congress was mandated to steer the country's affairs since 2009. The country has faced significant macroeconomic hurdles spanning from 2009 to 2014, with 2015 promising to be far worse than the preceding ones. Ghana is faced with large-twin deficits, worsening government public debt and inflation, a steeper than valley depreciation of the cedi against major trading currencies, and a much weaker pace of the country's overall economic growth.

United for Change Movement would like to use this medium to highlight what the current government hasn't done well and their negative impacts to the general public.

The cedi has depreciated against the dollar for a whopping 35%, and close to 40% to the Pound Sterling. This impacted adversely on imports and exports, with prices of goods going up astronomically.

The uphill movement of Ghana's internal and external debts leave a great deal to be desired. With a total debt of 70% to the country's GDP, any administration worth its salt would take steps necessary to stem the worrying trend. Apart from its own failure to ensure the so-called home grown policies to materialize to address these economic bottlenecks, the Mahama administration and its predecessor treated the otherwise 'worth considering' diagnosis and prognosis proffered by known, yet, tried and tested economists with open contempt. Dr. Mahamadu Bawumia would not be spared by government communicators for predicting Ghana was heading towards disastrous consequences as a result of the reckless borrowing and some vodoo economic theories being practised by the Mahama/Amissah-Arthur led-administration. He predicted Ghana would run to the IMF for a possible policy credibility and a bailout. This was vehemently denied by government. He also predicted the cedi could fall as high as 40% if the fundamentals of the economy were not addressed. Needless for us to remind Ghanaians these predictions have truly but sadly come to fruition.

Sight must not be lost of the fact that per the standards of the IMF, low income economies whose debt ratio to GDP exceeds 60% face serious risks of falling into a deeper economic gulley. In the light of this, Ghana has been there since last year because ours far more outweighs the 60% prescribed by the IMF. Ghana, under the NDC, has contracted loans to the tune of $27 billion, close to ¢80 billion. This recklessness, coupled with the fact  that government has been competing with the private sector for cash from local financial institutions has sapped the energy needed to project the country to greater heights. The economy, in effect, has contracted, no wonder our growth rates year in, year out, have been taking downhill directions. Without oil, Ghana's GDP rate in 2008 grew at 8.4%, but with oil, we recorded paltry figures of 7.9% and 7.4% in 2012 and 2013 respectively. If this isn't a gory sight, we wonder what else it is. The country missed the growth rate target in 2014, and the IMF has reversed downwards the targeted growth rate for 2015 to below-average 3.5%!

Looking at these figures, United for Change Movement can say without any fear of contradiction that Ghana is doomed economically, and its independence is at best, theoretical, since the government of the day could not generate ideas from its household but had to force a smile at the IMF for policy credibility and bailout!

In accordance with Article 179 of the Constitution of the Republic of Ghana, the finance minister, on behalf of the president, read the budget statement to Ghanaians. Listening attentively to it, and delving deeper into the targets, figures and projections into the future, United for Change Movement can sadly but successfully conclude that the medium to long-term prospects of the country are only wishful thinkings! The theme for the budget, "Transformational Agenda; Securing the bright medium term prospects of the economy", one gets the unbiased and unfettered impression that there is a wider hole between the theme and the steps the budget highlights would be used to arrest the wailing economy. The projections, it doesn't require the exceptional qualities of a genius to ascertain,are not in tandem with the realities on the ground. This informed the IMF to peg our growth rate at 3.5% instead of what government projected.

Ladies and gentlemen, United for Change Movement is of the view that, the depreciating Ghana cedi, and mounting public debt as a direct culmination of government's excessive and reckless borrowing, and extremely disappointing growth in all sectors of the economy, largely give testament to the fact that the ship is sinking deeply into the bottomless pit of the sea, and must be rescued. To this end, United for Change Movement is calling on Ghanaians to be in red and black attires to signify our displeasure at how abyssmal the economy is being handled,  and that we are sick and tired of government appointees always drumming into our ears that the Mahama administrstion recognizes the challenges we are facing since it isn't soothing enough to our tired brows, for we believe in action more than words. Thank you.

SIGNED:
MR. ROBBIE SARKODIE KLINSMAN : +447950318943
MR. KWADJO ANIM : +233247651154
P.K SARPONG : 024 888 9263
JAMALUDEEN A. ABDULLAH : 0246198919
KATTE  PRATT: +44 7912 365690