Minister for Government Communications, Felix Kwakye Ofosu, has criticised the Minority for attempting to distance themselves from the sharp depreciation of the Ghanaian Cedi witnessed during their tenure.
Speaking during the 2026 Budget debate, he said the previous administration left behind a currency that had undergone severe collapse.
“Mr Speaker, the Ghanaian Cedi suffered a catastrophic collapse under the watch of our colleagues on the other side,” he stated.
He argued that the depreciation was not marginal but historic, and that by the time the former government exited office, the local currency had lost substantial value against major international currencies.
According to him, this level of currency weakness created ripple effects across the economy, affecting businesses, investors and ordinary citizens alike.
Mr Kwakye Ofosu revealed that some forex bureaus were selling the US dollar for GH¢17 when the Minority was leaving office.
“By the time they left office, you could buy a dollar at GH¢17 in some forex bureaus,” he said, describing the situation as clear evidence that the outgoing administration mismanaged the currency.
He emphasised that such a dramatic collapse could not be overlooked or rewritten in political debates, noting that exchange rate performance is a measurable indicator of economic health.
“Economic analysis relies on metrics that are not subject to interpretation or opinion,” he stressed, arguing that the Minority cannot escape responsibility for the currency’s depreciation.
The Minister concluded by urging the Minority to approach the budget debate with honesty about the condition in which they left the economy.
He said acknowledging the truth is essential for constructive economic decisions.
“The record speaks for itself, and they must accept the consequences of their own stewardship,” he noted.
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