Ghana’s inflation is at record high, Cedi is suffering, businesses are stressed – Mahama

Leader and flagbearer, I pledge. I will cooperate with the party's leadership, represented here by the General Secretary, to develop a strong team and implement initiatives to preserve Ghanaians' votes. The reckless Akufo Addo and Bawumia administrations have impoverished these Ghanaians. Most Ghanaians want to help us develop the Ghana we desire.

At the 44th anniversary of the June 4th rebellion in Hohoe on Sunday, I compared the 2024 elections to a peaceful and democratic revolution that will liberate our country and people from a mediocre, reckless, and inept government.

We are here to declare your intent to join Ghanaians in a peaceful, free, and fair 2024 election to overthrow this ignorant leadership. We cannot fail Ghanaians on this national priority.

Seven years of corruption, waste, arrogance, nepotism, office abuse, human rights breaches, and economic incompetence. Seven years of reckless economic mismanagement have broken our people.

Ghana has the worst-managed economy in the world. We're with Sri Lanka.

Our dear Ghana? Nkrumah’s Ghana?
The expense of living crisis is worsened by record-high inflation. The Ghana Cedi has fallen the most in decades. The Cedi was formerly the worst-performing currency in the world.

Many strained businesses are forced to close or move to neighboring countries. The Bank of Ghana worsened it. It printed almost 40 billion Ghana cedis to pay the government's budget shortfall, exceeding its financial limit.

After two years of downgrades to junk status by all international credit rating agencies, we defaulted on our domestic and external loans. The unilateral, insensitive debt restructuring initiative expropriated about GHS 80 billion lent by millions of Ghanaians to the government by acquiring bonds.

This has disrupted retirees' and middle-class Ghanaians' livelihoods. It's sad to see retirees picketing the Ministry of Finance for their money. Local businesses, especially contractors and government service providers, are owed tens of billions of Ghana cedis, which are losing value due to the government's incompetence or unwillingness to pay.

Government cannot meet all required payments, and many targeted funds are in arrears. Basic tasks like delivering textbooks to primary schools or feeding elementary and high school students have become difficult. These terrifying events have caused unparalleled economic hardship for Ghanaians.

I am sure you are all too familiar with the exact tale I just conveyed for those of you in the diaspora on whom millions of your relatives and countrymen back home depend for sustenance through remittances. If this government had taken our advice and acted quickly, all of this could have been avoided.

Creative accounting and under-declaration of figures have coupled with reckless spending to hasten the inevitable catastrophe we are witnessing now.


Our economy had deteriorated so much that only the worst IMF conditions could be accepted. Ghanaians paid dearly for an IMF scheme. Domestic bondholders received hefty haircuts and will lose significant interest in 2023.

These haircuts have dire financial effects. Ghanaian banks' declining financial soundness will hurt the financial industry and cost jobs.

Insurance firms, pension funds, and pensioners would also suffer.

Ghanaians have faced additional levies in the previous two years on top of this already difficult economic environment. 23 more tax measures will make life more worse for our people. Utility price hikes are burdening businesses and individuals.

Import and excise duties skyrocketed. No wonder the Tema and Takoradi ports have lost volumes while the Togo and Benin ports keep receiving products that should have come through our ports.

Ladies and gentlemen, one of Ghana's most pressing issues is the loss of expensively qualified health professionals to other countries.

Ghanaian youth, I sympathize! Their anguish and hopelessness are unprecedented. They now seek any chance to escape our borders for greener pastures.

How can we restore hope to Ghanaians facing daily challenges? Our record in government shows that the NDC is the best option. We've turned our country around before. Our country needs us to spearhead change again and help Ghana's suffering people.

Comrades, it would be naïve to imagine that this will come quickly or that the NPP's poor governance ensures us election success. Ghanaians must trust us first.

Due to disappointed expectations and this government's stunning failure, many people are suspicious about democracy and its benefits.

I want you to remember that our service in government differs from the NPP's nightmare.

Our record is public. The NDC is not flawless, but it cannot match the NPP. We cannot be as careless and dismissive to Ghanaians as the NPP. We would never spend, ostentatious, or imprudent like the NPP.

We will run a lean, efficient government without the NPP's waste. The NPP's economic ineptitude is unprecedented.

The NDC believes in thoughtful, long-term solutions to our most complicated problems.

We will not ignore Ghanaians' mandate. As shown in the Ayawaso West Wuogon by-election and 2020 elections, the existing government is willing to kill its countrymen to stay in power. An Electoral Commission whose neutrality in this election is questioned.

Thus, we have a challenge. We must immediately show Ghanaians that we are ready to rule and have a better record than the NPP.

This European Conference is important because it shows we can manage our domestic affairs. It shares unique ideas into better organizational techniques and novel ways to mobilize Ghanaians for a resounding 2024 triumph.


The NDC deeply appreciates your party leadership and great governance insights. The party understands your worries about voting and government.

The constitutional restrictions on dual citizens occupying government jobs in Ghana have concerned you. We suffered a great injustice when the Supreme Court threw out our Member of Parliament for Assin North on unacceptable grounds a few weeks ago.

When elected president in 2024, I will fast-track the clarification of the constitutional article on allegiance that prevents dual citizens from several offices in Ghana. I urge Parliament to act so Ghana may fully benefit from our citizens' foreign experience.

I'd like to clarify the NDC's position on ROPAA. The NDC supports ROPAA. We opposed selective and inequitable implementation that could benefit the governing party and hurt opposing parties.

If ROPAA is enacted, it should apply to all Ghanaians. We believe Ghanaians in Europe should have the same voting rights as those in Asia or Africa.

The NDC will not tolerate an NPP-Electoral Commission conspiracy to enact an unbalanced ROPAA favoring the NPP. We will support a level playing field for all Ghanaians worldwide to vote when we see it.

We recognize your contributions to Ghana's growth even though life's vicissitudes have forced you to live in other nations to work or improve yourself.

I'm certain that yesterday's deliberations would benefit the NDC and boost our efforts to save our country, which is in severe jeopardy. We're also helping the party's national and external chapters work together at home.

Our meeting today, June 10, marks the 33rd anniversary of our great party, the National Democratic Congress (NDC). Congratulations to our founding fathers and mothers and to us all who continue to grow and carry the party aloft over almost 40,000 chapters.

Our Founder, Flt. Lt. Jerry John Rawlings (Rtd.), former President Professor John Evans Atta Mills, and former Vice President Kwesi Bekoe Amissah-Arthur were all lost in the struggle.

We shall join the family on the 29th to remember Amissah-Arthur's contributions to Ghana's development.

As we always do, we will commemorate the late Asomdwehene on July 24th, and I will remind Ghanaians of his many contributions to the country and how we can learn from him to accelerate the country's development in the wake of the NPP's misrule.

I will hold a November meeting in Keta to honor our late Founder, Jerry Rawlings.

I appreciate your time.

I hope congress goes well.

Bless the NDC and Ghana.

I appreciate your time.