Flagearer for the Convention People’s Party, Dr. Abu Sakara Foster has countered claims by government that, the over-subscription of a 5 year bond it issued, demonstrated the good performance of Ghana's economy. The Ministry of Finance and Economic Planning issued a statement recently to say that the over subscription, largely by foreign fund managers of their 5 year bond issue at the rate of 23% is indicative of the acceptability of Ghana risks and therefore demonstrates the good performance of Ghana's economy. “The ministry is reminded that their charge is to manage the economy for Ghanaians and not foreign interests. Consequently the preferred outcome of the performance of the economy should be to benefit Ghanaians. The Bond should thus have been over- subscribed by Ghanaians. As it stands it is patently clear that the Government has failed Ghanaians in economic management, not to mention the high bond rate of 23%”, Dr. Sakara noted in a statement issued Wednesday. “The matter of the bond issue reflects a policy failure of the NDC government in private sector development. It indeed vindicates the alternative policy of the CPP to provide government guaranteed bonds to the private sector in the development of the productive resources of the country. It is by such means that domestic demand and export can be satisfied concurrently with an effort to develop the capacity of the private sector for international competition and partnership,” the CPP leader said. He said “the Ministry has unintentionally revealed that acceptance of Ghana risks has been procured at the expense of our unemployment and impoverishment. The consequences of high cost of living and deplorable living conditions under single digit inflation have become our lot. Manufacturing sector is comatose! and therefore productivity is in decline and is exceeded only by the free fall of the cedi.”