Vice Presidential Candidate of the New Patriotic Party (NPP) Dr Mahamudu Bawumia has lashed out at the economic prowess of the John Mahama-led government, saying it has done little to save the domestic currency.
According to Dr Bawumia, since 2001 the Cedi has performed worst between 2012 and 2016, the period of John Mahama’s first term.
The former Deputy Governor of the Central Bank expressed these at a lecture on Thursday, September 8 at the National Theater.
The lecture was delivered on the theme: ‘The State of the Ghanaian Economy – A Foundation of Concrete or Straw’.
Chaired by Former President John Agyekum Kufuor, the lecture had in attendance the leader of the NPP Nana Addo Dankwa Akufo-Addo, Members of Parliament, former minister of state, party supporters and some members of the diplomatic corps.
Dr Bawumia observed that the Cedi depreciated from GH¢1.2 to $1 in 2009 to GH¢3.95 to $1 currently.
“This is in contrast to the remarkable stability of the Cedi during the eight years of NPP government.”
He related the period of the Cedi’s decline to the general picture, insinuating that the economy has been worst under President Mahama.
“The fact is that the worst period of economic performance since 2001 has been under President Mahama’s stewardship between 2012 and 2016.
“The truth is that the foundation was already laid by the Kufuor government. President Mahama has spent the last eight years destroying this foundation; replacing it rather with a weak foundation of straw which he desperately tries to portray it as one of concrete.”