In a scathing critique of the current government’s economic performance, Ahmed M. Gedel, former Technical Advisor on Biometric Affairs for the National Democratic Congress (NDC) and representative to the Inter-Party Advisory Committee (IPAC) and UNDP-Ghana, has echoed the concerns raised by former President John Dramani Mahama.
According to him, the intense scrutiny directed at Dr. Mahamudu Bawumia is in the right direction because he is the chairman of the Economic Management Team (EMT).
Gedel’s remarks comes in the wake of Mahama’s five economic questions to the Vice President Mahamudu Bawumia, calling attention to the deepening economic challenges facing the country under the NPP administration.
Highlighting ghana’s economic woes, Gedel emphasized that the NPP government’s economic record is characterized by staggering failures, particularly in light of Dr. Bawumia’s past role as a proponent of accountability.
In 2016, Bawumia famously posed 170 questions to challenge the then Mahama administration’s record, demanding clarity on various economic issues.
However, Gedel argues that Bawumia’s tenure as chair of the EMT has been riddled with economic mismanagement and contradictions.
Now, Mahama’s five questions in return seek answers on key economic indicators that have drastically worsened since 2016.
Key failures highlighted include the significant depreciation of the Ghanaian cedi, which has plummeted from GHC 4 to $1 in 2016 to little above GHC 17 to $1 today.
Furthermore, he continued Ghana’s public debt has soared from GHC 120 billion in 2016 to a staggering GHC 763 billion in 2024, with inflation rates reaching an alarming 54%, the highest recorded in the 4th Republic.
Gedel, who is also the Deputy Zongo Caucus Coordinator in the US said the government’s reliance on borrowing, particularly the GHC 42 billion from the Bank of Ghana, has resulted in a GHC 60 billion loss, deepening the economic instability.
He reiterated that Mahama’s five critical questions to Bawumia serve as a stark reminder of the urgent need for accountability: What has caused the cedi’s drastic depreciation? Why has public debt escalated under Bawumia’s stewardship? What led to the unprecedented inflation? Why has the government resorted to excessive borrowing from the Bank of Ghana? And crucially, why has Bawumia failed to address these pressing economic concerns?
Gedel noted that these questions reflect the necessity for scrutiny and responsible leadership in Ghana. Mahama’s commitment to transparency is evident in his cooperative stance regarding investigations, notably his exoneration by the Office of the Special Prosecutor in the Airbus scandal.
Gedel pointed out that as Ghana grapples with the ramifications of economic mismanagement, the call for a shift towards responsible governance has never been more urgent. Mahama’s ongoing campaign, epitomized by his #Mahama4Change2024 initiative in the Northern Region, emphasizes the need for visionary leadership and a commitment to tackling corruption in all its forms. “In principle, these are essential to restoring economic stability,” he added.
He, however, stated that with the 2024 elections approaching, Mahama’s dedication to accountability and transparency stands as a beacon of hope for Ghanaians seeking a brighter future amidst the current economic turmoil.
