Parliamentary candidate for Abura Asebu Kwamankese, Felix Kwakye Ofosu, has said that anyone who agrees with the assertion that GH¢16 to $1 is better than GH¢4 to $1 rate during the Mahama administration in 2016 is mentally unstable.
He contended that such a comparison is unreasonable, given that the current rate is significantly higher than the rates seen during Mahama’s administration.
During his appearance on the Good Morning Ghana show on August 29, 2024, he stated, “That senseless argument stems from Bawumia’s disrespect when he tells you that an exchange rate of GH¢16 to $1 in relation to the dollar is better than GH¢4 to $1. With the greatest respect, that is madness if you ever made that argument. Even if you calculate depreciation using the correct formula, the rate under Bawumia is still higher.”
Health Minister Dr. Bernard Okoe-Boye refuted these claims, asserting that it is incorrect to imply that Ghana was a “banana republic” under John Mahama’s presidency.
He argued that Mahama faced difficulties in sustaining economic stability, as inflation rose from single to double digits during his tenure.
“When John Mahama took over from the late Evans Atta Mills, inflation was in single digits, but Mahama left with double digits,” he added.