The newly-elected National Democratic Congress (NDC) Member of Parliament for Cape Coast South constituency in the Central Region, George Kweku Ricketts-Hagan, has expressed concerns about Ghana’s severe economic challenges and reaffirmed his party’s commitment to tackling them decisively.

Speaking to JoyNews, Mr Ricketts-Hagan highlighted the need for immediate action to stabilize the economy.

He proposed renegotiating Ghana’s current programme with the International Monetary Fund (IMF).

"We are part of the IMF, and by December, the country would have received $2 million out of the $3 million. This means the NDC would have to complete the entire IMF programme with the remaining $1 million, which is a task very difficult to achieve given the current economic mismanagement," he stated.

"The way forward is to renegotiate, which we, the NDC, will seriously consider," former Deputy Minister for Finance and Trade and Industry added.

Mr Ricketts-Hagan criticized the NPP for engaging in what he calls flawed negotiations that have contributed to the country's current challenges emphasizing the NDC's commitment to implementing strategies aimed at reducing debt, maintaining fiscal discipline, and promoting economic growth.

He further stressed the party’s determination to address Ghana’s rising debt-to-GDP ratio.

"We will, in the first place, focus on our debt recovery. We will start reducing the debt by paying the debt owed. The debt negotiated by the NPP since 2020 is still in arrears," he stated.

He further expressed disappointment over the neglect of the Komenda Sugar Factory in the Central Region, describing it as a missed opportunity for economic transformation.

“The Komenda Sugar Factory, which was established as a means of import substitution for sugar, has not received the attention it deserves,” he lamented.

“Reviving this factory is a priority for the NDC, and we are already putting plans together to make it operational again,” he assured.

Additionally, Mr Ricketts-Hagan highlighted the NDC's proposed 24-hour economy programme, emphasizing its focus on tackling unemployment, enhancing productivity, creating jobs, fully harnessing the country's workforce potential, and ultimately improving living standards.

The Cape Coast North MP-elect assured Ghanaians of the NDC’s readiness to implement practical and people-centred solutions to rebuild the economy and restore hope.