Nana Ohene Ntow, advisor to independent presidential aspirant Alan Kyerematen, has urged President Nana Addo Dankwa Akufo-Addo to publicly apologize to Ghanaians for the depreciation of the Ghanaian cedi against the US dollar.
Ntow’s call comes amidst growing economic concerns and comparisons to past criticisms made by Akufo-Addo during previous administrations.
Speaking on TV3’s Key Points on Saturday, July 27, Ntow referenced Akufo-Addo’s past demands for resignation due to currency depreciation, highlighting that the exchange rate has worsened significantly under the current administration.
“President Akufo-Addo must apologize to Ghanaians for the exchange rate. He asked Prof Mills and John Mahama to apologize and should humbly and honourably resign rather than asking Ghanaians to vote for them,” Ntow asserted.
Ntow also underscored a perceived disconnect between positive economic statistics touted by Finance Minister Dr. Mohammed Amin Adam and the lived realities of ordinary Ghanaians.
“I look at the numbers and check the prices in town, and I ask what do they [numbers] mean to the majority of Ghanaians? There is a huge disconnect,” Ntow remarked critically.
Meanwhile, Joe Jackson, acting CEO of Dalex Finance, also expressed concerns about the same program regarding the gap between economic indicators and the tangible benefits felt by citizens. Jackson attributed this disparity mainly to corruption, estimating that it diverts about 40 percent of public revenues from crucial development projects.
While Finance Minister Dr Mohammed Amin Adam reported robust economic growth and stability in his recent mid-year budget review, including a 4.7 percent GDP growth rate for the first quarter of 2024, critics like Ntow and Jackson argue that these gains have not translated into improved standards of living for many Ghanaians.
Dr. Amin Adam has defended the government’s economic policies, noting improvements in inflation rates, stabilized exchange rates, and increased international reserves as signs of progress.
As debates over economic performance intensify ahead of upcoming elections, Ntow’s call for accountability underscores broader public sentiments regarding financial management and its impact on daily life in Ghana.
