The Communication Director for Dr. Mahamudu Bawumia, Dennis Miracles Aboagye, has claimed that Ghanaians would be purchasing a dollar at GH₵25 if the National Democratic Congress (NDC) were in power.

This assertion follows the consistent rise of the cedi-to-dollar exchange rate, which is currently above GH₵14 per US dollar. Several financial analysts have projected that the cedi will reach between GH₵16 and GH₵18 to the dollar.

Banking Consultant Dr. Richmond Atuahene, speaking on GHOne TV, mentioned that while Bloomberg and others predict the cedi will hit GH₵16 by the end of the year, he believes it will go even higher, suggesting Ghanaians should prepare to trade at GH₵18 to the dollar.

However, in an interview on Starr Chat with Bola Ray, Aboagye defended the governing New Patriotic Party (NPP)'s handling of the cedi-to-dollar exchange rate, considering the various challenges they have faced.

“I am very sure that if in August 2014 the dollar was going that fast, if the same managers were here, we would be buying the dollar at GH₵25. Can you tell me what happened in 2014 for the cedi to move from 1.2 to 3.9 cedis to the dollar?

“When you are running an organization, you run it with conditions, and the conditions will determine where you are moving your organization. In Ghana today, given the challenges we face in the global economy, if these managers were in charge between 2020 and now, we would be buying dollars at GH₵25 or GH₵30. Because in 2014, we had no reason to have the dollar where it was,” Mr. Aboagye stated.

He continued: “I can tell you what COVID-19 has done to us; I can tell you what the Ukraine-Russia war has done to us. I can tell you what the challenges in Asia have done to us. Can you tell me what was happening in 2014? Mention just one thing.”