Mahama bemoans Ghana’s high food inflation

According to him, the program has been unable to achieve its target due to gross mismanagement.

Mahama bewailed that the dip in the economy has taken a toll on local investors because the country is faced with 30% treasury bill rates.

He stated that the country is wrestling with massive reverse capital flows as investors lose their money regularly.

This he shared on Facebook, “Ghana is on record as having the highest food inflation in the World at 122%, notwithstanding the much outed but grossly mismanaged Planting for Food and Jobs program. We are grappling with treasury bill rates of about 30% as local investors in our financial instruments suffer huge risks associated with lending to the government. We are also experiencing massive reverse capital flows as investors lose what is left of their confidence in our economy and pull out in droves,”

However, Mahama alleged the food inflation figure does not correspond with the official figures announced by the Ghana Statistical Service (GSS).

Concurrently, data from the GSS show that the country’s food inflation, as of September 2022, was 37.8%.

Planting for Food and Jobs is a flagship agricultural Campaign of the Government, with five (5) implementation modules. The first module PFJ (Crops) aimed at promoting food security and immediate availability of selected food crops on the market and providing jobs.

This constituent was officially launched by President Nana Addo Dankwa Akufo Addo at Goaso on April 19, 2017, in the then Brong Ahafo Region.