Political Marketing Strategist, Dr. Kobby Mensah, has stated that the consequence of the government’s debt exchange programme extends beyond the New Patriotic Party losing power in the 2024 general elections.

According to him, the Party itself has lost credibility and brand equity as a result of the far-reaching economic crisis the country is saddled with.

The President, he said, will also suffer a blow to his legacy.

Speaking on the political cost of the debt restructuring exercise, Dr. Kobby Mensah said the NPP would have to retire “better managers of the economy” mantra as it no longer fits again.

“I think that the cost goes even beyond elections. It is not about losing votes, it is about the brand credibility of the NPP and the brand equity as the party that manages or can manage better the economy.

“I don’t think that description fits again because from what we have seen and Theo actually pointed out, you promised that you’re the better managers of the economy and the party has pride itself for so long. Now that particular equity has dissipated,” he said.

He continued, “Again we’re talking about legacy, the legacy of Nana Addo for example has actually been hugely affected. So it’s not only about losing votes but these other political ramifications are clear and to resolve it is not a one day job.

“I mean it will be difficult for you to say that you could actually convince the Ghanaians by taking some raft measures that people will perceive as short term. You have to be mindful of how people will perceive what you do.”

According to Dr. Mensah, for now, the only thing the ruling party can do in an attempt to get back into the good books of Ghanaians is to demonstrate remorse and heed to the voices of civil society groups.

He said, the party despite the economic quagmire it has led the country has woefully failed to apologise to the citizenry, rather engaging in the castigation of the opposition party instead of taking responsibility for their actions.

“First they’d have to be remorseful. They haven’t shown any remorse. Continually people say the President and the Finance Minister have not shown any iota of evidence that they themselves are actually taking the hard decisions.

“A lot more people have called for the President to cut down waste, they haven’t done that. And we haven’t heard any speeches that suggest that the party or the government is actually remorseful in what is happening. We haven’t seen their demonstrating that they’re in it with us, that we all are in it together you don’t see it.

“So I think that the only way for them to get back to us for people to think that well we can give them some kind of a pass is for them to demonstrate that ‘yes, we have wronged in a number of ways, we have taken quite a number of policy positions or actions that did not augur well and so they’re remorseful for that.

“And then of course begin to be transparent and be very frank with Ghanaians  and perhaps we could actually pardon them,” he suggested.