Akufo-Addo and Bawumia have moved Mahama’s B- rated economy to junk status after years of reckless borrowing – Franklin Cudjoe

Franklin Cudjoe

Founding President of policy think tank IMANI Africa, Franklin Cudjoe, has criticised the economic management of President Nana Akufo-Addo and Vice President Dr. Mahamudu Bawumia, accusing them of driving Ghana’s economy into crisis.

In a Facebook post, Cudjoe compared the current administration's economic performance to that of former President John Dramani Mahama, suggesting that the former performed better despite criticisms during his tenure.

He noted that in 2016, Mahama’s governance earned a B- rating from global credit agencies—a score that the current administration had promised to improve.

"John Dramani Mahama wrote his first economic governance exams in 2016 and passed with a B- rated mark by external examiners—rating agencies," Franklin Cudjoe wrote.

He recounted how Akufo-Addo and Bawumia pledged to outperform Mahama’s administration, citing their appointment of 123 ministers and over 1,200 presidential staffers as part of efforts to "fix Ghana."

However, eight years later, Franklin Cudjoe argues that the promises have not materialised.

Instead, he says the government has engaged in “reckless borrowing,” pushing Ghana’s debt to over GH₵780 billion and downgrading the economy to junk status.

“After 8 years of reckless borrowing with over 780 billion cedis in debt, they succeeded in moving a Mahama’s B- rated economy to junk status,” Franklin Cudjoe said in his post.

He further accused the government of betraying public trust, referencing their assurance of no financial haircuts, only for many Ghanaians to face significant losses on their investments.

"They literally pickpocketed savings and investments of the aged and defenceless senior citizens," he said.