Minister for Government Communications Felix Kwakye Ofosu has described the economic downturn experienced in 2024 as “the worst crisis in Ghana’s history,” arguing that its severity was unprecedented and avoidable.
Speaking on Metro TV on Friday, November 21, he attributed the crisis to mismanagement rather than global factors, pointing directly to the leadership of former Vice President Dr Mahamudu Bawumia, who served as head of the Economic Management Team.
Mr Kwakye Ofosu asserted that the hardships citizens endured in 2024 were a direct reflection of policy failures.
According to him, inflation, instability in the currency, and difficulties in public finances all contributed to a level of strain that had never been witnessed in the country’s post-independence history.
He emphasised that these economic indicators showed a stark contrast between the government’s rhetoric and the lived reality of Ghanaians.
He stated that despite assurances from the former Vice President and the NPP government, the administration failed to implement measures that could have cushioned the population.
Instead, he argued, the burden of austerity and high living costs pushed many households into severe distress.
“The numbers and the lived experiences all point to a crisis of historic proportions,” he said.
Mr Kwakye Ofosu also rejected claims that global conditions were primarily responsible for the crisis, saying many countries navigated similar shocks without experiencing the level of hardship that Ghana faced.
He insisted that Ghana’s difficulties were amplified by poor decision-making and an overreliance on short-term policies that could not sustain the economy.
He concluded that the economic crisis of 2024 would remain a central point of political debate as the country approaches the next general election cycle.
In his words, Ghanaians will continue to demand accountability, particularly from Dr Bawumia as he seeks reelection to lead the NPP into the 2028 presidential race.