President John Mahama vs Bawumia on Cedi to Dollar Rate – Who’s behind the Cedi’s Strength? Ghana Cedi Debate 2025 has taken Ghana’s media by storm following significant appreciation of the Ghanaian Cedi
President John Dramani Mahama has confidently attributed the Ghanaian cedi’s recent appreciation against the US dollar to decisive and focused leadership under the current administration. This statement directly counters assertions made by former Vice President Dr. Mahamudu Bawumia, who credited long-term initiatives by the New Patriotic Party (NPP)—particularly the gold buyback scheme—as the real drivers of the cedi’s strength.
President John Mahama vs Bawumia on Cedi to Dollar Rate – Ghana Cedi Debate 2025
According to President Mahama, the recent gains are the result of immediate, well-targeted economic reforms, foreign exchange interventions by the Bank of Ghana, and increased investor confidence brought on by political stability. “Leadership matters,” Mahama stated, emphasizing that without sound decision-making at the top, macroeconomic improvements like the cedi’s performance would not be possible.
Dr. Bawumia, on the other hand, claims the current gains are the delayed fruits of policies implemented by the NPP government before leaving office. He cited the gold-for-oil and gold reserve initiatives as key stabilizing tools that were now yielding results. Bawumia argued that these frameworks laid the groundwork for the current administration’s monetary flexibility.
However, Mahama dismissed this argument, suggesting that the former Vice President is attempting to “ride the wave” of success after failing to arrest the cedi’s decline during his own tenure. “When the economy was tanking, he asked Ghanaians to leave it to the professionals. Now that there is a turnaround, he claims it’s his policies,” Mahama noted during a recent engagement.
This back-and-forth comes at a politically charged moment, as both parties intensify their campaigns ahead of the 2025 general elections. Analysts suggest that the cedi’s performance could become a central economic issue in the political narrative moving forward.
