The New Patriotic Party (NPP) has sharply rejected former President John Mahama’s claim that the Akufo-Addo administration “criminally handled” Ghana’s economy, dismissing the accusation as misleading and politically charged.
The clash, rooted in conflicting economic narratives, underscores deepening tensions between the two major political parties as debates over fiscal responsibility intensify.
Speaking to organized labor in Accra on February 20, Mahama alleged reckless governance under the outgoing NPP government, stating, “Ghana is a crime scene” due to what he called mismanagement of public funds. He urged austerity measures, including cuts to government expenditure, to stabilize the economy. “We all must make sacrifices,” Mahama emphasized, vowing to reduce wasteful spending and rebuild trust in leadership.
NPP Communications Director Richard Ahiagbah swiftly countered the claims, citing data to defend the administration’s record. He argued that the Akufo-Addo government inherited an economy in 2017 with a $1.8 billion trade deficit, a 6.6% current account deficit, and 3.5 months of import cover—conditions he described as far weaker than those Mahama received in 2017. Ahiagbah highlighted improvements under the NPP, including a $3.85 billion trade surplus by 2024, a 2.6% current account surplus, and gross international reserves rising to $9 billion.
Ahiagbah also pointed to inflation dropping from 54.1% in late 2022 to 22.1% by October 2024, alongside a reduced debt-to-GDP ratio from 79.2% to 74.6%. He credited external debt restructuring for securing $2.86 billion in relief, with $657 million accessible in the current fiscal year. Public sector wage increases—30% in 2023 and staggered raises in 2024—were framed as evidence of economic recovery. “Is this an economy that’s been mishandled?” Ahiagbah asked, attributing hardships to global crises like COVID-19 rather than policy failures.
The exchange reflects a broader struggle to shape public perception ahead of Ghana’s 2028 elections. Mahama’s rhetoric taps into widespread frustration over cost-of-living pressures, positioning his National Democratic Congress (NDC) as a party of fiscal prudence. Conversely, the NPP’s reliance on macroeconomic metrics aims to deflect blame toward external shocks while touting stabilization efforts.
Analysts note that such debates often overlook structural issues, such as reliance on commodity exports and debt sustainability. While the NPP emphasizes growth projections (6.3% for 2024 versus 3.4% in 2017), critics argue these figures mask persistent inequality and unemployment. The NDC, meanwhile, risks overstating its own economic legacy; Mahama’s tenure saw a banking crisis and rising debt, factors the NPP has historically criticized.
As both sides trade barbs, Ghanaian voters face competing narratives: one framing the economy as a “crime scene” and the other as a resilient recovery story. With trust in political institutions eroding, the dispute underscores the high stakes of economic storytelling in a nation grappling with accountability and reform.
Ahiagbah’s closing remark—“Ghana will appreciate the difference between the talkers and the doers”—hints at the NPP’s strategy to cast the NDC as all rhetoric and no action. Yet, with inflation still above 20% and austerity measures looming, the government’s ability to translate data into public confidence remains uncertain. The battle over Ghana’s economic legacy, it seems, is far from settled.
Good afternoon, Ghana
On President Mahama’s comment that Ghana’s economy has been criminally handled, Ghanaians should note the following:
1. Nothing could be further from the truth. President Mahama inherited an economy where:
a. The gross international reserve stood at…
— Richard Ahiagbah (@RAahiagbah) February 21, 2025
