Professor Ransford Gyampo, a senior political lecturer at the University of Ghana has criticized the New Patriotic Party’s (NPP) defense of the cedi depreciation under the Akufo-Addo government.
In a recent interview, Vice President and 2024 flagbearer Dr. Bawumia argued that the cedi has fared better against the dollar in the last six years compared to the previous NDC administration.
The Vice President has touted relatively lower annual depreciation rates under the NPP as evidence the cedi is better managed.
The NPP presidential candidate insists global factors are mostly to blame for the current pressures.
However, Prof. Gyampo sees this as an attempt to shift blame rather than address the root causes.
The political scientist says looking only at percentages ignores the reality that Ghanaians are worse off with the higher exchange rate.
"You needed 4 cedis to get 1 dollar then, and it was a huge show of incompetence. But now you need close to 14 cedis to get 1 dollar.
“Why should anyone force the argument that we are better off today? Excessive partisanship breeds madness," Prof. Gyampo said in a Facebook post on Friday, May 10.
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