Cedi gains due to “effective leadership”, not single policy – Mahama tells Bawumia
The president's remarks follow criticism from Dr Bawumia, who told members of the Young Executive Forum (YEF) in London that the governing National Democratic Congress (NDC) could not point to any specific intervention responsible for the cedi’s recovery
President John Dramani Mahama has firmly dismissed suggestions by former Vice President Dr Mahamudu Bawumia that the recent appreciation of the Ghanaian cedi lacks policy grounding, attributing the currency’s stability instead to “effective leadership.”
Speaking during a meeting with members of the clergy on Friday (23 May), President Mahama described the opposition’s demand for a single policy explanation as reductive, arguing that broader governance measures had restored confidence in the economy.
“Somebody says, point to one policy that you have implemented to make the cedi appreciate, and I said one policy? It’s not about one policy. The answer is effective leadership,” Mahama said to applause.
The president’s remarks follow criticism from Dr Bawumia, who told members of the Young Executive Forum (YEF) in London that the governing National Democratic Congress (NDC) could not point to any specific intervention responsible for the cedi’s recovery.
“If you are to ask the NDC to point out exactly what policy they have implemented that has resulted in the appreciation of the cedi… they cannot tell you one,” Dr Bawumia argued, crediting legacy initiatives like the NPP’s gold purchase programme for the currency’s gains.
But Mahama maintained that the cedi’s performance was a product of macroeconomic stability achieved through fiscal discipline, restored investor confidence, and “a new standard in governance.”
“With effective leadership, we can turn this economy around and create a better life for our people, and that is what I’m committed to,” he said.
He pledged that the gains made would not only be sustained but entrenched beyond his current term.
“To make sure that by the time we finish these four years, we will set such a standard in government that whichever party or whichever people come into governance cannot reverse the gains that we have made in restoring our people’s confidence in our democracy,” Mahama added.
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