John Dramani Mahama, former President and current opposition candidate in Ghana, recently posed five pointed questions to Vice President Dr. Mahamudu Bawumia concerning Ghana’s economic situation, aiming to address issues he believes are impacting citizens. Mahama raised these questions during his Northern Region tour, drawing attention to the nation’s fiscal and monetary challenges. His questions included:
Exchange Rate Concerns: Mahama asked why the Ghanaian cedi had weakened significantly against the U.S. dollar, reaching a rate of GHC 17 to USD 1. This exchange rate issue has been widely discussed in Ghana, as it affects imports, inflation, and purchasing power.
National Debt Increase: He questioned the ballooning of Ghana's national debt, which reportedly rose from GHC 120 billion to GHC 767 billion in eight years under the current administration. The rapid increase has raised concerns about sustainability and potential impacts on future economic stability.
High Inflation: Mahama pointed to the inflation rate, which he stated reached 54%, as a critical issue that is straining household budgets and making it difficult for ordinary Ghanaians to afford basic necessities.
Bank of Ghana Borrowing: He criticized the government’s borrowing of GHC 42 billion from the Bank of Ghana, noting that this led to a significant loss for the Central Bank. The borrowing practices and their impact on the Central Bank’s stability and independence have been a contentious topic.
Lack of Economic Discourse: Finally, Mahama questioned why Dr. Bawumia, previously active in discussing Ghana’s economy, has shifted his focus primarily to digitalization projects rather than addressing these pressing economic concerns. He implied that the Vice President’s silence on the economy signals a lack of accountability.
In response, Vice President Bawumia issued a robust counter-argument, listing 50 questions for Mahama that critiqued the former president's economic policies during his term. Bawumia's questions tackled various issues, including infrastructure, economic growth, and social services, suggesting that Mahama’s own record on these matters was insufficient.
Mahama’s questions and Bawumia’s counter-questions reflect the high-stakes nature of Ghana's 2024 elections, with economic issues like inflation, currency depreciation, and debt management taking center stage as both candidates seek to address voter concerns and shape the nation’s economic future.
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