{"id":103891,"date":"2025-11-19T05:24:00","date_gmt":"2025-11-19T05:24:00","guid":{"rendered":"https:\/\/sotnews.agency\/?p=103891"},"modified":"2025-11-19T05:24:00","modified_gmt":"2025-11-19T05:24:00","slug":"at-the-time-you-left-office-cedi-had-suffered-a-catastrophic-collapse-kwakye-ofosu-to-minority","status":"publish","type":"post","link":"https:\/\/sotnews.agency\/?p=103891","title":{"rendered":"At the time you left office, cedi had suffered a catastrophic collapse \u2013 Kwakye Ofosu to Minority"},"content":{"rendered":"
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\n \t<\/i> Read Time:<\/span>1 Minute, 25 Second <\/div>\n\n <\/div>
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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.<\/p>\n

Speaking during the 2026 Budget debate, he said the previous administration left behind a currency that had undergone severe collapse.<\/p>\n

\u201cMr Speaker, the Ghanaian Cedi suffered a catastrophic collapse under the watch of our colleagues on the other side,\u201d he stated.<\/p>\n

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.<\/p>\n

According to him, this level of currency weakness created ripple effects across the economy, affecting businesses, investors and ordinary citizens alike.<\/p>\n

Mr Kwakye Ofosu revealed that some forex bureaus were selling the US dollar for GH\u00a217 when the Minority was leaving office.<\/p>\n

\u201cBy the time they left office, you could buy a dollar at GH\u00a217 in some forex bureaus,\u201d he said, describing the situation as clear evidence that the outgoing administration mismanaged the currency.<\/p>\n

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.<\/p>\n

\u201cEconomic analysis relies on metrics that are not subject to interpretation or opinion,\u201d he stressed, arguing that the Minority cannot escape responsibility for the currency\u2019s depreciation.<\/p>\n

The Minister concluded by urging the Minority to approach the budget debate with honesty about the condition in which they left the economy.<\/p>\n

He said acknowledging the truth is essential for constructive economic decisions.<\/p>\n

\u201cThe record speaks for itself, and they must accept the consequences of their own stewardship,\u201d he noted.<\/p>\n<\/div>\n

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\"AtMinister 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.<\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_2277560469115098_106292521332774":"","twitter_aToxNzczMzI3Njk4OTg4ODUxMjAxOw==_1773327698988851200":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1966,1879,111,265,1883,10,9],"tags":[],"class_list":["post-103891","post","type-post","status-publish","format-standard","hentry","category-hp-news-6","category-kwakye-ofosu","category-mahama","category-minority","category-national","category-politics","category-popular"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/103891","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=103891"}],"version-history":[{"count":0,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/103891\/revisions"}],"wp:attachment":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=103891"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=103891"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=103891"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}