Cedi appreciating due to effective leadership – Mahama chides Bawumia

President John Dramani Mahama has firmly responded to former Vice President Dr. Mahamudu Bawumia’s recent remarks questioning the basis of the Ghanaian cedi’s recent appreciation, insisting that the turnaround is a result of sound leadership and governance, not a single policy decision.

Dr. Bawumia, speaking to members of the Young Executive Forum (YEF) in London, had challenged the National Democratic Congress (NDC) to identify a specific policy that could be credited for the cedi’s recent strength. He argued that the currency’s stability was the outcome of initiatives launched by the New Patriotic Party (NPP), including the gold purchase programme.

“If you are to ask the NDC to point out exactly what policy they have implemented that has resulted in the appreciation of the cedi… they cannot tell you one,” Bawumia claimed.

President Mahama, in a rebuttal during a meeting with clergy on Friday, May 23, rejected that narrative. He explained that the recovery of the cedi should not be seen as the result of a singular initiative but rather a reflection of a broader commitment to effective governance.

“Somebody says, point to one policy that you have implemented to make the cedi appreciate, and I said one policy? It's not about one policy. The answer is effective leadership,” he responded.

According to the president, Ghana’s economic progress has been made possible through a combination of strong leadership, fiscal discipline, and renewed public confidence—factors he believes are the foundation of macroeconomic stability.

“With effective leadership, we can turn this economy around and create a better life for our people, and that is what I’m committed to,” Mahama stated, emphasizing that the positive momentum is the result of a collective effort and a clear governance strategy.

He also expressed his determination to ensure that the progress achieved under his administration would be long-lasting and resilient to political change.

“To make sure that by the time we finish these four years, we will set such a standard in government that whichever party or whichever people come into governance cannot reverse the gains that we have made in restoring our people’s confidence in our democracy,” he concluded.

Mahama’s comments underscore his administration’s focus on restoring economic stability and reinforcing trust in national leadership, as the cedi continues to show signs of improvement.