Mahama calls for President Akufo-Addo’s resignation over cedi depreciation

Former President and flagbearer of the National Democratic Congress (NDC), John Dramani Mahama, has urged President Nana Addo Dankwa Akufo-Addo to step down due to the severe depreciation of the Ghanaian Cedi.

Speaking at a campaign rally in Nkwabeng, in the Nkwanta South District, as he concluded his tour of the Bono East Region, Mahama criticized the government’s economic management, particularly the rapid decline of the Cedi.

He noted that the exchange rate has dropped from over GH¢15 to the US dollar, causing significant economic hardship for Ghanaians. Mr. Mahama contrasted this situation with the state of the economy under his administration, pointing out differences in inflation and exchange rates.

He argued that the steep depreciation of the Cedi has burdened households and businesses, making the cost of living unbearable.

Mahama emphasized that had President Akufo-Addo and his administration been truly accountable, the president would have resigned when the Cedi first showed signs of significant decline.

He added that the current exchange rate of GH¢16 to a dollar is far worse than the GH¢4 to a dollar rate during his tenure, lamenting the impact of the depreciation on essential goods like cement.

“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.”