There appears to be no end in sight for Cedi depreciation – Mahama laments

John Dramani Mahama has criticised the current government for failing to manage the local currency's depreciation against the dollar and other major currencies.

Speaking at the 8th CEO Summit in Accra, Mahama highlighted the administration's inability to curb the Cedi's rapid decline, which has caused significant hardship for Ghanaians.

He noted that unemployment has risen to 14.7%, inflation exceeds 25%, and interest rates range from 30% to 50%.

Despite these challenges, Mahama accused the government of prioritizing non-essential expenditures over necessary economic reforms and urged for more prudent fiscal policies to stabilize the currency and alleviate economic strain.