𝚂𝚝𝚘𝚛𝚢 𝚋𝚢:𝙸𝚟𝚢 𝙰𝚋𝚎𝚗𝚊 𝙳𝚎𝚍𝚎 𝙽𝚊𝚛𝚔𝚒 𝚃𝚎𝚢𝚎
𝟿/𝟿/𝟸𝟶𝟸𝟺
Flagbearer of the largest
opposition National Democratic Congress (NDC) John Dramani Mahama has slammed President Nana Addo Dankwa Akufo-Addo for superintending over the country’s economic woes.
According to him, President Akufo-Addo should have resigned over the depreciation of the Ghanaian cedi to the dollar.
Speaking at a rally in Nkwabeng in the Nkwanta South District, as he concluded his tour of the Bono East Region on Friday, Mr Mahama expressed frustration with the current exchange rate, which has exceeded GH¢16 to the US dollar.
Mr Mahama questioned the President’s previous claims that the current economic conditions were better than during the NDC administration when inflation was in single digits.
Under the late President Atta Mills, the exchange rate was GH¢2 to a dollar. When you [Akufo-Addo] took over, it was GH¢4 to a dollar. After nearly eight years in office, it has now shot up to GH¢16 to a dollar,” Mahama remarked.
He argued that the President should have considered stepping down as the economic situation worsened, stressing that it is difficult to justify the current rate.
“It’s hard to see how GH¢16 to a dollar can be considered better than GH¢4. Unfortunately, we are all living through this difficult period,” Mahama added, pointing out that even the prices of basic commodities, such as cement, have soared due to the exchange rate pressures.