Razak Kojo Opoku
The media’s core mandate is to educate and inform the masses. The Ghanaian media is no exception to this.
However, with utmost respect, some media outlets, out of mischief and agenda setting, have always been deepening the ignorance of the masses through misleading information.
As an honest person leading an honest government, President Nana Addo Dankwa Akufo-Addo has admitted the current challenges facing the country. He and his government are also working hard to mitigate the effects of the challenges, including the currency depreciation and in the prices of fuel and goods and services, which are not as a result of government’s mismanagement but rather the war in Ukraine and the cascading effects of the COVID-19 pandemic.
Under Mahama
The factors that weakened the fundamentals of the economy in Mahama’s era, and thereby affected the exchange rate, are not the same factors that are at play under the Akufo-Addo’s presidency.
In the Mahama era, it was a complete misappropriation and mismanagement of the country’s meagre resources. It was borne out of incompetence.
“Dumsor,” reckless payment of judgement debts, poor credit ratings, among others, were some of the factors which undermined the fundamentals of the economy during Mahama’s era.
During the period of Mahama, there was no Free SHS policy, as it is being implemented under the Akufo-Addo government at the cost of GHC 7. 5 billion annually.
There were no 1D1F, no 1 Constituency 1 Ambulance, no NAELP, no NEIP, no NABCO, no GEA, no Planting for Food and Jobs, no 1 Village 1 Dam, no employment in the public sector, no allowances for teacher and nurse-trainees, among others.
Yet, the fundamentals were so weak under John Mahama’s administration that the rate of depreciation badly exposed the Ghanaian economy.
No external factors were the cause of the Cedi’s depreciation under Mahama’s administration. While the economy and currency of every country were doing well, it was the reverse in Ghana under Mahama’s administration.
Our current situation
It is true that the Cedi is depreciating under Akufo-Addo’s presidency, but it is important to state that this challenge is not only peculiar to Ghana.
The Almighty Euro, Pounds, Yen, Ruble, Renminbi, among others, have all depreciated against the US Dollar. This is a global phenomenon due to the COVID-19, Russia-Ukraine war, sanctions against Russia, tensions between Russia and the West, among others.
Can anyone mention a country which is currently doing well economically in the face of the aforementioned global crisis? Absolutely none.
All countries are suffering economically due to the global crisis we are being subjected to by the conduct of Russia and the effects of COVID-19.
Yes, the Cedi is depreciating and fuel prices are on the rise but:
- You are not experiencing “Dumsor” like it happened in the era of Mahama’s administration.
- Your children are still enjoying the Free SHS policy unlike Mahama’s administration.
- You are enjoying allowances as teacher and nurse-trainees unlike Mahama’s administration, which cancelled the payments.
- You are witnessing road construction across the country simultaneously unlike under Mahama’s administration.
- You are enjoying the benefits of 1D1F, Planting for food and jobs, NEIP, NAELP, NABCO etc. unlike Mahama’s administration.
- You are benefitting from, and making good use of, the government’s digitalization and digitization programme unlike Mahama’s administration.
- You are benefitting from the services of the ambulances made available under the 1 Constituency 1 Ambulance initiative of Akufo-Addo’s government unlike Mahama’s administration.
- Your funds which were locked up in banks have been redeemed due to the banking/financial sector clean-up exercise by Akufo-Addo’s government unlike Mahama’s administration which caused the collapse of the banks/financial sector.
All hope is not lost under Akufo-Addo’s presidency. Let’s rally behind the government which is prepared to lead us out of our current challenges.
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