The flagbearer of the Nationwide Democratic Congress (NDC), John Dramani Mahama, has intensified his criticism of President Nana Addo Dankwa Akufo-Addo’s dealing with of the economic system, calling for his resignation over the speedy depreciation of the Ghanaian cedi.
Addressing a rally in Nkwabeng within the Nkwanta South District, as he concluded his tour of the Bono East Area on Friday, former President John Mahama expressed frustration with the present trade price, which has exceeded GH¢16 to the US greenback.
Mahama’s feedback come on the claims that the cedi continues to plummet in opposition to the greenback, sparking widespread issues in regards to the influence on the economic system and the usual of residing of Ghanaians.
The previous president’s criticism of Akufo-Addo’s financial administration shouldn’t be new.
In current months, John Mahama has been vocal in regards to the authorities’s dealing with of the economic system, accusing Akufo-Addo of mismanaging the nation’s funds and failing to handle the basis causes of the financial disaster.
Based on Mahama, Akufo-Addo’s failure to stabilize the cedi and tackle the financial challenges going through the nation is a transparent indication that he’s now not match to steer.
“It’s exhausting to see how GH¢16 to a greenback may be thought of higher than GH¢4. Sadly, we’re all residing by way of this troublesome interval,” Mahama mentioned, stating that even the costs of primary commodities, equivalent to cement, have soared as a result of trade price pressures.
The depreciation of the cedi has been a serious concern for the federal government, with the trade price rising from GH¢4 to a greenback when Akufo-Addo took workplace in 2017 to over GH¢16 to a greenback at present.
The federal government has attributed the depreciation to exterior components, together with the COVID-19 pandemic and the Russia-Ukraine battle.
Nonetheless, critics argue that the federal government’s financial insurance policies, together with the choice to hunt an IMF bailout, have contributed to the disaster.