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Tuesday, June 18, 2024

Ghanaians would have been buying a dollar at GH₵25 by now under the NDC – Miracles Aboagye –

The Communication Director for Dr. Mahamudu Bawumia, Dennis Miracles Aboagye, has said Ghanaians would have been buying a dollar at GH₵25 if the National Democratic Congress (NDC) were in office.

This comes on the back of the consistent rise of the cedi to dollar rates, which currently stand above GH₵14 for the US dollar.

Several financial analysts have projected that the cedi will hit between GH₵16 and GH₵18 to the dollar.

Banking Consultant Dr. Richmond Atuahene, speaking on GHOne TV, stated that though Bloomberg and others are predicting that the cedi will reach GH₵16 by the end of the year, he thinks it will go higher.

According to him, Ghanaians should prepare to trade GH₵18 for the US dollar.

However, speaking on Starr Chat with Bola Ray, Dr. Bawumia’s Campaign Communication Director stated that the governing New Patriotic Party (NPP) has done well with the handling of the cedi to dollar rate, considering the challenges it has been beset with.

“I am very sure that if in August 2014 the dollar was going that fast, if the same managers were here, we would be buying the dollar at GH₵25. Can you tell me what happened in 2014 for the cedi to move from 1.2 to 3.9 cedis to the dollar?

“When you are running an organization, you run it with conditions, and the conditions will determine where you are moving your organization. In Ghana today, given the challenges we face in the global economy, if these managers were in charge between 2020 and now, we would be buying dollars at GH₵25 or GH₵30. Because in 2014, we had no reason to have the dollar where it was,” Mr. Aboagye stated.

He continued: “I can tell you what COVID-19 has done to us; I can tell you what the Ukraine-Russia war has done to us. I can tell you what the challenges in Asia have done to us. Can you tell me what was happening in 2014? Mention just one thing.”

Source: starrfm.com.gh

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