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 7^th January 2017, 1 United States Dollar (USD) was equal to GHC 4.1 and 1 Great Britain Pound Sterling (GBP) was equal GHC 5.90. The country’s Debt to Gross Domestic Product (GDP) was 54 percent, 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 recorded in November 2016.

This was condemned by the New Patriotic Party and their protagonists prior to the 2016 elections, they branded these indicators as cyphers 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 lower exchange rate, debt to GDP, lower inflation and lower cost of living.

Today 1USD is equal to GHC15 whiles 1GBP is equal to GHC17.80 (this is in spite of the fact that, the government have 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 selling at GHC 20 in 2016 but GHC 90 today, a gallon of diesel was GHC 18 in 2016, 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. Unemployment rate was 7 percent in 2016, today it stands at 17 percent.

In 2016, according to the Transparency International’s released corruption perception index (CPI). The NDC’s worse performance was 43 which is better than the NPP’s best performance of 41.

In view of the above economic indicators that evidently show that, the NPP are the worse 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 the better managers of the economy. How, what did we do to deserve these blatant disrespect and insults?

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 and candid 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, it is an insult to our intelligence, they should credit Ghanaians with some levels of intellect. In actual fact, this government has benefited from COVID-19 and is still benefiting. The only government in the world who 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 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, regrets, admit your failure and apologise.

   Comments0