The current vice president of Ghana, His Excellency Dr. Mahamadu Bawumia has had a statement he made some 4 years ago on the state of the Ghanaian cedi and its performance against the dollar has today caught up with him.
He wrote this: The former President’s comments once again, sadly demonstrate his lack of understanding of key aspects of our economy. I understand the difficulty of the former President in appreciating the currency depreciation debate. I would try to simplify the explanation for him.
He continued by saying that the data on the performance of the Cedi over the years shows that the Cedi is recording one of its best performances in the Fourth Republic under President Nana Addo Dankwa Akufo-Addo.
The depreciation of the Cedi against the US dollar is one of the lowest in the first year of any government since 1992. The data is clear on this indisputable fact.
Here are comments from Ghanaians as many recalled the vice president’s comment:
• l am shocked that you disregarded the pain and hardship Ghanaians are going through partly because of the weak cedi and had the paunch to tell the former president he doesn’t understand exchange rate economics. In your attempt to justify your fibs you forgot that under Kufour it was the redenomination that gave that exchange rate.
• Under your economic management team that meets regularly as we speak the exchange rate is Ghc 11.40 to the dollar. This is what Ghanaians want you to address. Now you are only interested in the presidency so you don’t want to address this.
• For your information go to Makola, Agbogloshii, and tell the importers the suffering and hardship under NPP are fewer, the truth is Ghanaians are suffering.
• Both NDC and NPP are similar in many respect. We are tired of this kind of comparison. Indeed, the living conditions of the ordinary Ghanaian are worsening under your watch, someday you will regret this statement.
• We are still suffering under your administration just as we suffered under the erstwhile NDC administration. You are better off if you are silent and allow Ghanaians to bear the brunt of the economic hardship than these unsolicited comparisons.
• The goal should not be “making Ghana less bad” than the previous NDC government but to make Ghana generally better. Let’s aim for cedi appreciation and stability and not depreciation. The past wasn’t the best that’s why we sought to change, we’re still far below. That’s still a decline, let’s strive for more.
Content created and supplied by: BATACH (via Opera
News )