According to the party, most Ghanaians continue to endure hardships despite the upgrade of Ghana’s economic outlook.

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Last week the global rating agency upgraded Ghana’s long-term local and foreign currency sovereign credit rating from B- to B.

The upgrade has, however, been interpreted differently by the opposition NDC and the ruling New Patriotic Party (NPP).

The government maintains that the rating is an indication that Ghana’s economy is in good standing and has string fundamentals.

The NDC however disagrees, insisting the rating does not comfort Ghanaians in any way and is not a true reflection of the economic situation of the country.

Speaking to Accra-based Citi FM, former Deputy Information Minister, Felix Kwakye Ofosu said the last thing on the minds of Ghanaians is the S&P’s rating when living conditions have not improved.

“The Standard & Poor’s rating comes as cold comfort for Ghanaians who are reeling under severe economic hardships at a time where the cedi has taken a very steep nose dive and is depreciating at an alarming rate against the US dollar. The last thing on the minds of Ghanaians is our ratings,”  he stated.

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According to him, government must “arrest the cedi and stop it from further decline”, as was promised prior to the 2016 elections.

He said “the cedi’s depreciation has led to high increases in petroleum products and in goods and services generally. What the government should be fronting are the measures that they have adopted to arrest the cedi decline.”

“There are extreme difficulties on the ground. Importers have been lamenting about the astronomical increases in the levies they pay when they want to clear their goods from the ports. The recently introduced luxury cars tax is further burdening the public. Other tax measures have ensured that Ghanaians are paying far more today than they were paying in the past. These are some of the things adversely affecting Ghanaians,” Ofosu Kwakye added.