Akufo-Addo should have resigned over cedi depreciation against US dollar – John Mahama

Flagbearer of the National Democratic Congress (NDC), John Dramani Mahama has called for President Nana Addo Dankwa Akufo-Addo to resign due to the depreciation of the cedi.

Mahama, during a campaign rally in Nkwabeng, Nkwanta South District, at the end of his tour of the Bono East Region, expressed his frustration with the government's economic management.

Comparing the current economic situation to that during his administration, Mahama noted the rapid decline of the cedi, which he said has dropped to over GH¢15 to one US dollar.

This depreciation, he says, has significantly increased the cost of living for Ghanaians.

“During the Atta Mills’ administration, the exchange rate was GH¢2 to a dollar. When he took office, it was GH¢4 to a dollar. After nearly 8 years in power, the exchange rate has now risen to GH¢¢16 to a dollar.

“President Akufo-Addo should have resigned long ago when the cedi depreciated to GH¢16 per dollar. It is difficult to see how GH¢16 to a dollar can be considered better than GH¢4 to a dollar.

“Unfortunately, we all find ourselves in this difficult situation. Even the prices of cement have skyrocketed,” he remarked.

The former president argued that if President Akufo-Addo and his administration were truly accountable and concerned about Ghanaians' welfare, the president would have resigned when the cedi first began its steep decline.

ID/MA

Watch the latest edition of BizTech below:

Ghana’s leading digital news platform, GhanaWeb, in conjunction with the Korle-Bu Teaching Hospital, is embarking on an aggressive campaign which is geared towards ensuring that parliament passes comprehensive legislation to guide organ harvesting, organ donation, and organ transplantation in the country.

Click here to follow the GhanaWeb Business WhatsApp channel