Bawumia has mismanaged the Ghanaian economy - Edudzi Tameklo

Lawyer Godwin Edudzi Tameklo, the head of the legal team of the National Democratic Congress (NDC), has called upon Vice President Dr Mahamudu Bawumia to take responsibility for what he perceives as mismanagement of Ghana's economy.

He highlighted a significant drop in the value of the Ghanaian cedi against major trading currencies, attributing this trend to what he described as "short-term and unsustainable policies" spearheaded by Dr Bawumia, the head of the Economic Management Team.

He emphasised that the subsequent reduction in Ghana's credit rating by international agencies revealed the economy's true weaknesses, leading to a rapid depreciation of the cedi.

"Consistently, they were doing 2 billion dollars on average every year, then in 2022, the rating agencies downgraded Ghana. Immediately upon the downgrade, the cedi now had to face its true strength.

"We went to 15 cedi to a dollar; that was the true strength of the Ghana cedi, a damage that has resulted from their incorrect choices.

"Dr. Bawumia and his so-called Economic Management Team should demonstrate humility and say we are sorry, we have destroyed the economy. He should apologize to the people of this country for how he has mismanaged this economy in the most reckless manner," 3news.com quoted him to have said in an interview with TV3 on April 8, 2024.

He added. "We are dealing with an exchange rate of 13.75 at a time when we are not servicing our debts; if we start servicing our public debt, the cedi will go through the roof.

"Dr Bawumia has mismanaged the economy; the so-called economic wizard must apologize to Ghanaians for mismanaging the economy."

According to Tameklo, the consequences of these economic decisions have been dire for ordinary Ghanaians.

He pointed to the increasing cost of living and the challenges faced by businesses as evidence of the economic mismanagement that he attributes to Dr. Bawumia and his team.

AM/KOD

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