General News of Saturday, 22 September 2018
The Managing Editor of the Insight Newspaper, Kwesi Pratt Jnr has mocked the Vice President, Dr Mahamudu Bawumia for supervising a failing economy.
According to him, the fast depreciating cedi is an indication that the country’s economy is not doing well and hence called on the government to act fast to save the economy before the worse happens.
Kwesi Pratt’s calls add to the growing demand on government by individuals and organizations to address the fast depreciating cedi.
So far, the depreciation of the local currency is the highest value drop since President Nana Addo Dankwa Akufo-Addo took office in 2017.
Director of financial markets, at the Bank of Ghana, Stephen Opata, has said the high interest rates introduced by the American Federal Reserve are to blame for the poor performance of the cedi against the dollar.
Dr. Bawumia has also claimed government has done far better in the management of the local currency.
But Kwesi Pratt disagrees, insisting that the increase in petroleum prices in Ghana recently shows that the country’s economy is not doing well. He mocked the Vice President by repeating his old cliché to former President Mahama that if you manage the country with propaganda, the figures will expose you.
“If your economic fundamentals are weak, your petroleum prices will expose you…,” he mocked on Peace FM’s Kokrokoo on Tuesday as monitored by GhanaNewsPage.Com.
To him, the fuel prices would have been reduced drastically if the economy has unshaken fundamentals.