Mahama blames NPP’s bad economic management for Ghana’s woes

Estimated read time 2 min read

Former President John Dramani Mahama has chastised the Akufo-Addo-led government for leading the country into economic shambles. According to the NDC flag bearer, there is no denying that the NPP government borrowed without conscience to lead the country to where it is now.

Mahama said the economic hardships experienced by Ghanaians are “self-inflicted”. He said bad economic management by President Akufo-Addo and his team is the sole reason to blame for the current mess.

“I have always said that this crisis is self-inflicted. It is a result of mismanagement…let nobody tell you otherwise. Our economic managers have landed us in this situation, first because of excessive borrowing,” Mahama noted.

The former President who is seeking re-election in the 2024 polls said Ghanaians can testify to the hardships and need no one to tell them that things are good when they are not. He expressed shock that the NPP took the exchange rate for GHS4 to a dollar to over GHS12 to a dollar.

Nobody can come and tell you that your life is better when your life is getting worse. This government took the cedi-to-dollar exchange rate to about 4 cedis to the dollar and said they had arrested the dollar and jailed it. Unfortunately, from what is happening, the dollar has not been jailed; it is still running. As we speak, if you don’t have GH¢12.50, you will not get 1 dollar.”

Mahama’s exchange rate comment was a jab aimed at his main competitor in the upcoming Presidential elections, Dr Mahamudu Bawumia. The Vice President stated in 2017 that within 100 days of being in power, they have halted the depreciation of the Cedi against the US dollar.

“When we came in, it [cedi] was running, essentially we have arrested it [cedi], and the IGP has the keys, he’s locked it up, we want to make sure we pursue sound policies to keep the cedi stable, it has appreciated for this year,“ Bawumia stated in 2017.

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