Cedi gains: Mahama thinks outside box, NPP should learn – NDC’s Chachas

Abdul Razak Chachas, Deputy Director of Research for the National Democratic Congress (NDC) in the Bono Region, has praised former President John Dramani Mahama as a visionary leader and problem solver who “thinks outside the box.”

His remarks come in the wake of the recent appreciation of the Ghanaian cedi, which is currently trading at around GH₵12.40 to the U.S. dollar — a notable improvement in recent weeks.

While some experts attribute the cedi’s gains to both internal and external factors, including strong gold exports, improved remittance inflows, and fiscal discipline, others, particularly from the Minority in Parliament, have argued that the appreciation is primarily due to external conditions, such as global market movements and the US-China trade dynamics.

Reacting to these assertions during an appearance on TV XYZ, Mr. Chachas criticized members of the ruling New Patriotic Party (NPP) for downplaying the role of local economic management.

“I’ve heard some NPP members say the cedi’s appreciation is solely due to the US-China tariff war. If the NPP were in power, they would’ve introduced a US-China tariff levy, just like they did with the COVID-19 levy and blamed the economic crisis on the Russia-Ukraine war,” he said.

Mr. Chachas emphasized that the current improvements reflect deliberate policy interventions under the leadership of John Mahama, notably highlighting the Gold for Oil and GoldBod initiatives.

“John Mahama is a man of vision. He thinks outside the box. That’s why he introduced the GoldBod. We’ve generated $2.7 billion from gold just this year alone — compare that to the \$2.3 billion the NPP generated for the whole of 2023,” he added.

Mr. Chachas concluded by urging critics to acknowledge the impact of sound policy decisions and to recognize the NDC’s commitment to restoring economic stability.