One dollar is 15 cedis, Debt to GDP is 104% yet people are still talking

When Nana Addo Dankwa Akufo-Addo was sworn into office at the forecourt

of the Black Star Square as the president of the republic on January 7, 2017, 1 United States Dollar (USD) was equal to GHC 4.1 and 1 Great Britain Pound

Sterling (GBP) was equal to GHC 5.90. The country’s Debt to Gross Domestic

Product (GDP) was 54 percent, and the national debt stock had reached GHC 122.6

billion.

The year-on-year inflation rate as measured by the Consumer Price Index (CPI)

was 15.4 percent in December 2016, down by 0.1 percentage point from the

15.5 percent was recorded in November 2016. This was condemned by the New Patriotic Party and its protagonists.

Prior to the 2016 elections, they branded these indicators as ciphers of incompetence and ineptitude by the government of former president John Dramani Mahama and the National Democratic Congress (NDC). They denigrated, vilified,

maligned and eviscerated former President John Mahama with all sorts of

disparaging adjectives.

They promised to better manage the economy with a lower exchange rate, lower debt to GDP, lower inflation, and a lower cost of living.

Today 1 USD is equal to GHC15, while 1 GBP is equal to GHC17.80 (this is in

despite the fact that the government has suspended servicing its foreign

debt, the situation would have been worse than it is now.

Inflation is 24 percent, and debt to GDP is 104 percent. The country’s debt stock is currently close to GHC 700 billion.

A bag of cement was sold at GHC 20 in 2016 but GHC 90 today, a gallon of

diesel was GHC 18 in 2016, and today a litre is selling at GHC 16.60; therefore, a gallon is GHC 61.42 (from GHC 18 in 2016 to 61.42 in 2024) under the current

government who claimed to be competent. The unemployment rate was 7 percent

in 2016, today it stands at 17 percent.

In 2016, according to Transparency International released corruption

perception index (CPI), the NDC’s worst performance was 43, which is better

than the NPP’s best performance of 41.

In view of the above economic indicators, it evidently shows that the NPP are

the worst managers of the economy and the perfect description of incompetence. Ordinarily, one would have expected the NPP and their protagonists to bow their heads down in shame and shut up. Yet they have the temerity and impudence to go around the country, claiming to be better managers of the economy. How and what did we do to deserve this blatant disrespect and insult?

Despite the obvious failure and the country’s lack of direction, these same

people are shamelessly and disrespectfully shouting “breaking the eight”

instead of “fixing the mess”. If they had principles, integrity, and a scintilla of respect for Ghanaians, they would not even contest the 2024 elections.

The obvious lack of remorse, regret, and admission by the members of the

Akufo-Addo-Bawumia government towards Ghanaians after these glaring and

unprecedented monumental economic mismanagement is appalling, disgusting, nauseating, and an insult to the wisdom of Ghanaians.

The members of the government and their communicators have shown clear

disrespect to Ghanaians, they do not think we are intelligent, they think

Ghanaians are gullible and naive.

The least Ghanaians deserve from the current government is an honest apology. Each time, the NPP communicators try to justify the current economic mess with the flimsiest excuse of COVID-19. It irritates every organ in my body, which is an insult to our intelligence. They should credit Ghanaians with some level of intellect.

In actuality, this government has benefited from COVID-19 and is still benefiting. The only government in the world that has introduced COVID-Levy is the Akufo-Addo-Bawumia government. This is despite the fact that the government has received over USD 1 billion from the IMF and the World Bank as a COVID-19 relief fund.

I crave the indulgence of the government and its communicators to stop

talking, because one dollar is GHC15, one pound is GHC 17.80 for GOD’S fake.

Stop insulting our intelligence; stop adding insults to injury. Credit us with

some intelligence, show some remorse and regrets, admit your failure and

apologise.