Vice President and New Patriotic Party (NPP) flagbearer, Dr. Mahamudu Bawumia, has claimed that the NPP government has managed the exchange rate more effectively than the National Democratic Congress (NDC), despite facing significant global economic challenges.Dr.

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Bawumia compared the performances of the two parties, emphasizing that under the NPP government, the Ghanaian cedi has depreciated by 72% over eight years, a figure he described as lower than the NDC’s 74% depreciation during their tenure.“I want to talk about the exchange rate and I want them (NDC) to listen because they don’t understand. When it comes to the exchange rate, we measure the performance by the rates of depreciation.

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When you look at their period, the cedi depreciated by 74% without a global crisis, no Russia-Ukraine war, no COVID-19 outbreak, and no global economic recession. Under the NPP for eight years with a global economic crisis, we have depreciated the cedi by 72%, which is lower than their depreciation,” he stated.

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The Vice President argued that the NPP’s handling of the exchange rate demonstrates superior economic management compared to the NDC, particularly as the latter governed during a period of relative global stability.He also stressed that the performance of the exchange rate should be judged based on the rate of depreciation rather than nominal values, adding, “The NDC doesn’t understand how exchange rates are measured and managed.”Dr.

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Bawumia urged Ghanaians to consider the broader context of global economic challenges when assessing the government’s performance. He reaffirmed the NPP’s commitment to stabilizing the economy despite unprecedented global crises, touting the party’s resilience in navigating difficult economic conditions.

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