Cedi hit GHC 17 under you – Tameklo rebukes Bawumia’s economic record

Godwin Edudzi Tameklo, the Acting CEO of the National Petroleum Authority (NPA), responded to Dr. Mahamudu Bawumia's recent comments. Bawumia, a former NPP flagbearer, dismissed the NDC's role in the appreciation of the Ghanaian cedi.

Tameklo called Bawumia’s remarks dishonest. He linked them to Bawumia’s poor performance in the 2024 elections.

“When he says he doesn’t know what has been done, it shows dishonesty,” Tameklo said. He criticized Bawumia for trying to distance the NDC from credit for the cedi's gains.

Tameklo noted that Bawumia should reflect on his scorecard instead of making economic theories. He pointed out that under Bawumia’s leadership, inflation soared and the cedi depreciated significantly.

“You are known as an economist,” Tameklo stated. “Your boss Nana Akufo-Addo brought you in to strengthen the cedi.”

He highlighted that when Bawumia left, the cedi was at GHC17 and inflation reached 57%. This is part of his legacy, according to Tameklo.

Tameklo suggested that Bawumia’s current stance is about political survival. “Bawumia finds himself in a tight corner,” he said.

He added that Bawumia needs to energize NPP supporters while positioning himself favorably among party members. Otherwise, he should let Ato Forson, Governor of the Bank of Ghana, manage the economy.

These comments followed Dr. Bawumia's statements during an event with the Young Executive Forum (YEF) in London. There, he claimed that the NDC has not implemented any policies responsible for the cedi’s appreciation.

“If you ask them what policy they have implemented for this appreciation,” Bawumia said, “they cannot tell you one.”

He criticized their budget process and lack of contracts or payments made since March.