Former President John Dramani Mahama has launched a scathing attack on the Akufo-Addo administration, describing it as “incompetent” and “clueless”. Mahama, who is also the flagbearer of the National Democratic Congress (NDC), criticized the government for its poor management of the economy, particularly the rapid depreciation of the local currency, the Cedi.
Speaking at the 8th CEO Summit in Accra on May 27, 2024, Mahama expressed concern over the free fall of the Cedi, which has crossed the 15 Ghana Cedi threshold against the US dollar. He noted that the exchange rate, which was previously at 4.00 Ghana Cedis to the US dollar, has deteriorated rapidly, with no end in sight.
Mahama accused the government of being “unconcerned” and “unwilling to cut expenditures”, despite the economic challenges facing the country. He alleged that the government continues to spend more on “creature comforts” instead of investing in transformational infrastructure that will propel the nation forward.
The former President promised Ghanaians that he will “reset and repair” the damage to the economy if he is voted back into power in this year’s elections. He wrote on social media, “An obviously clueless, incompetent & ‘yenkyendi’ government. The $ is today trading above 15 GHC. I promise Ghanaians, I will reset and repair the damage to the Ghanaian economy.”
Mahama’s criticism of the government’s economic management comes as no surprise, given the country’s current economic challenges. The rapid depreciation of the Cedi has led to a rise in the cost of living, with many Ghanaians struggling to make ends meet.
The 8th CEO Summit, which is being held under the theme “Reigniting Business and Economic Growth: Charting A Path Forward; Economic Diversification and Artificial Intelligence Transformation”, brings together CEOs from various sectors to discuss ways to revamp the economy.
Mahama’s promise to revamp the economy has been met with mixed reactions, with some Ghanaians expressing skepticism about his ability to deliver on his promises. However, others believe that he has the experience and expertise to turn the economy around.
The NDC flagbearer’s criticism of the government’s economic management is likely to intensify in the coming weeks, as the country heads towards elections. The ruling New Patriotic Party (NPP) has yet to respond to Mahama’s criticisms, but it is likely to defend its economic record in the coming days.
The economic debate is likely to dominate the political discourse in the coming weeks, with Ghanaians eagerly waiting to see how the two main political parties will address the country’s economic challenges.
Mahama’s criticism of the government’s economic management has added a new dimension to the political debate in Ghana. As the country heads towards elections, the economy is likely to be a key issue that will determine the outcome of the polls.
