Sammy Gyamfi, the National Communications Officer of the National Democratic Congress (NDC), has strongly criticized government officials, particularly Vice President Dr. Mahamudu Bawumia, for claiming that Ghana’s economy is on the path to recovery.
Speaking on The KeyPoints with Alfred Ocansey, Mr. Gyamfi rejected these claims as misleading and disconnected from the reality faced by ordinary Ghanaians. He highlighted the exchange rate as a key indicator of the economy’s health, pointing out that the Ghanaian cedi has lost approximately 27-28% of its value against the US dollar in 2024 alone. He noted that on the black market, the cedi was trading at around 16.4 to the dollar, while banks were offering rates of 15.9 to 16, all amid a shortage of dollars in the system.
Gyamfi also raised concerns about rising inflation, citing data from the Consumer Price Index (CPI), which showed an increase from 20.4% in August to 22.1% in October. He criticized the government’s narrative on inflation, questioning whether the rising rates represented any form of economic improvement.
In addition, Gyamfi pointed to high lending rates, which have soared to as much as 36%, further crippling businesses instead of supporting recovery. He accused the government of manipulating the narrative to cover up economic mismanagement.
The NDC official also referenced past controversies, such as the 2018 distribution of expired food items to flood victims, using it as an example of the government’s failure to uphold standards. Gyamfi’s remarks have fueled ongoing debates about the state of Ghana’s economy, with many citizens calling for greater transparency and accountability from the government.
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