By Our Democracy News GH
October 20, 2026
Minister for Government Communications Felix Kwakye Ofosu has challenged former Vice President and New Patriotic Party (NPP) flagbearer Dr Mahamudu Bawumia to reconcile his current criticism of the Mahama government’s economic management with his previous defence of exchange rate stability as a key measure of economic performance.
Mr Kwakye Ofosu accused Dr Bawumia of changing his position on the importance of the exchange rate after the cedi strengthened under the National Democratic Congress (NDC) administration.
Speaking to Umaru Sanda Amadu on Citi FM’s Eyewitness News on Monday, October 19, 2026, the government spokesperson said Dr Bawumia had previously emphasised the importance of exchange rate stability before the 2024 general elections.
“Today, Bawumia says that stability is not important. I can send you about three different clips of him before the 2024 elections in which he stoutly defended stability,” he said.
Mr Kwakye Ofosu further questioned whether the former Vice President still considered the exchange rate a major indicator of economic performance.
“Was he not the one who told us that the most important indicator in an economy like ours is the exchange rate? Was he not the one who told us this in 2014?” he asked.
His comments follow Dr Bawumia’s recent assessment of the economy, in which the NPP flagbearer argued that declining inflation and a stronger cedi had not translated into sufficient relief for households facing the high cost of living.
Dr Bawumia described the situation as a “paper economy” and a “pocket economy”, arguing that improvements in headline economic indicators had yet to deliver meaningful benefits to ordinary Ghanaians.
Mr Kwakye Ofosu rejected that assessment, insisting that Ghana’s key economic performance indicators had improved under President John Dramani Mahama’s administration.
“The truth is that every single measure of economic performance today is better than he left it,” he said.
The government spokesperson, however, acknowledged that further improvements were needed and said the administration would continue working to improve economic conditions.
“Of course, it can always get better. There is no dispute about that, and we will continue to work assiduously as a government to ensure that things get better than they are today,” he added.
The exchange highlights the competing assessments by the government and the opposition over Ghana’s economic recovery, particularly whether improvements in inflation and exchange rate performance are translating into tangible relief for households.
