Posted: Saturday 7th June 2014 at 18:06 pm

Interrogate Rawlings’ cedi redenomination claims dispassionately – policy analyst proffers


A development and organisation policy analyst, Dr Mawai Zakaria, says recent comments by former President Rawlings regarding the economic consequences of the redenomination of the Ghana cedi must not be treated with malice.

“We need to look at it and query it, noting that it is coming from a former President and also interrogating it with an economic lens”,  said Dr Zakaria.

Former President Rawlings on June 4 marked 35 years of the uprising that toppled the Supreme Military Council (SMC) in 1979, where he, among other things accused the John Agyekum Kufuor-led government of corrupt practices during its cedi redenomination in 2007.

The redenomination knocked off four zeros from the existing denominations and also saw the introduction of the current cedi notes.

President Rawlings also blamed the current economic crisis on the decision by the former President Kufuor to redominate the country, and challenged the New Patriotic Party (NPP) to declare what it did with old notes in the run up to its phasing out.

Although President Rawlings has come under a deluge of harsh criticisms for those comments, Dr Zakaria said on Newsfile, news analysis programme on Saturday that, critics must not lose sight of the fact that after the redenomination, vendors reviewed their prices upward, sparking price inflation generally.

In Dr Zakaria’s views, former President Rawlings’ comments have been starved of dispassionate analysis because he was once a political head. Story by Ghana | Myjoyonline.com | George Nyavor | [email protected]

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