Dr Mahamudu Bawumia, the New Patriotic Party (NPP) flagbearer, has criticised the Mahama government over the current economic conditions in Ghana, arguing that things are not going well for many citizens.
The NPP flagbearer argued that economic stability must translate into improved living conditions, stressing that lower inflation and a stronger cedi mean little if Ghanaians continue to struggle with the cost of living.
Speaking at the party’s Thanksgiving Service in Sunyani, Dr Bawumia drew on Ghana’s founding President, Dr Kwame Nkrumah’s famous statement about liberation, to question the benefits of the country’s economic indicators when citizens continue to struggle.
“Stability of the economy is meaningless if it cannot be linked up with the total liberation of the suffering of our people,” he stated.
According to Dr Bawumia, although the government points to declining inflation and a fall in the value of the dollar against the cedi as evidence of economic progress, these developments must ultimately benefit ordinary Ghanaians.
“If you look at how things are going today, we all know things are not going well. Today, if you ask the government what they have done, they will tell you they have brought down inflation and the dollar has come down,” he said.
Dr Bawumia further questioned the significance of these economic gains if citizens continue to experience financial hardship.
“The reason why we want inflation and the dollar to come down is for Ghanaians to benefit, is that not it? But if inflation is coming down and the dollar is also coming down and there is still suffering, is that what we want?” he asked.
He further argued that economic stability should be reflected in the cost of living, pointing to rising utility bills and transport fares as some of the challenges confronting households and businesses.
“You cannot have a stable economy with people suffering. Electricity bills, water bills, petrol and transport fares have all gone up. Traders are complaining because people are not buying their goods,” Dr Bawumia added.
Meanwhile, Director of the International Monetary Fund (IMF) African Department, Zeine Zeidane, has stated that things are moving in Ghana in the right direction.
Zeine Zeidane disclosed that Ghana is better positioned to withstand potential global commodity-price shocks.
The IMF offered an optimistic assessment of the economy as the Fund and World Bank conclude their 2026 Annual Meetings in Bangkok, Thailand.
Zeine Zeidane highlighted that Ghana’s strong economic performance and recent credit-rating upgrade point to progress in the country’s recovery, as it moves beyond the completed Extended Credit Facility (ECF) bailout programme to a new phase of reforms under the Policy Coordination Instrument (PCI).
Director of the IMF’s African Department expressed confidence in the direction of the economy.
Speaking at a Sub-Saharan African press briefing during the meetings, Zidane stated, The performance has been strong up to now. And also, you certainly have seen that recently, there was an upgrade of Ghana. So, things are moving in Ghana in the right direction”.
He, however, acknowledged the risks posed by fluctuations in global commodity prices, adding that Ghana was entering this period from a stronger position.
“Of course, the risk in terms of commodity prices, every country can face them, but I think Ghana is, if that happens, we will face them from a very strong position,” he added.
Also, the IMF has cited Ghana’s economic reform programme as an example for other countries to follow.
The IMF African Department Director, Zeine Zeidane, praised the country’s progress under the Extended Credit Facility (ECF).
During a meeting on the sidelines of the ongoing IMF-World Bank Annual Meetings in Bangkok, Thailand, Zeine Zeidane told Finance Minister Dr Cassiel Ato Forson. “We tell others to follow your steps”.
He further commended Ghana’s performance under the programme, describing it as a success and acknowledging the government’s efforts to strengthen economic management.
“I want to first commend you on how you are performing. The ECF was a great success,” he said.
He further expressed a positive assessment of Ghana’s current economic position, declaring that “Ghana is in a very good place.”
Watch the video below:
“Things are not going well in Ghana. You cannot have a stable economy with people suffering.” – Dr. Mahamudu Bawumia, NPP Flagbearer, commenting on the current state of Ghana’s economy. VC: @The1957News https://t.co/s5Fame0KBa
— EDHUB🌍ℹ (@eddie_wrt) October 18, 2026
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