{"id":184763,"date":"2024-05-30T12:40:44","date_gmt":"2024-05-30T12:40:44","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/05\/30\/bawumia-will-design-long-term-framework-to-halt-cedi-depreciation\/"},"modified":"2024-05-30T12:40:44","modified_gmt":"2024-05-30T12:40:44","slug":"bawumia-will-design-long-term-framework-to-halt-cedi-depreciation","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/05\/30\/bawumia-will-design-long-term-framework-to-halt-cedi-depreciation\/","title":{"rendered":"Bawumia will design long-term framework to halt cedi depreciation"},"content":{"rendered":"<p><\/p>\n<div>\n<p>The Deputy Minister for Finance, Dr Stephen Amoah, has intimated that the flagbearer of the New Patriotic Party (NPP), Dr. Mahamudu Bawumia, will draft a long-term national framework that will fight and reverse the Cedi\u2019s sharp depreciation against the US dollar if he is elected president.<\/p>\n<p>The former Microfinance and Small Loans Centre (MASLOC) boss and MP for Nhyiaeso in a media interaction on Wednesday, May 28, said that the \u201cCedi depreciation is a ritual problem\u201d that requires someone with an impressive financial background such as Dr. Bawumia to strengthen Ghana\u2019s weak forex space.<\/p>\n<p>Various trade unions and persons from the business community have been raising concerns lately with the unbridled fall of the Cedi against the US dollar, which they say is negatively affecting the cost of doing business, and have petitioned the government to find a lasting solution to the currency\u2019s fall.<\/p>\n<p>Dr. Amoah in an interview with Bernard Avle on the <strong>Citi Breakfast Show<\/strong> on <strong>Citi FM<\/strong>, urged Ghanaians to elect Dr. Bawumia as president come December 7 so that he can \u201cdesign a long-term framework to deal with the Cedi [depreciation].\u201d<\/p>\n<p>He blamed the Cedi\u2019s woes on excessive importation, adding that the government is currently finding solutions to stabilise it as a short-term approach.<\/p>\n<p>\u201cWe are doing our best to stabilise the Cedi, which I said is a short-term approach, but we need a long-term approach to resolve the issue through a framework, and then I proposed that to achieve that, we will design a long-term approach when Dr Mahamudu Bawumia is elected president.\u201d<\/p>\n<hr\/>\n<p><em><strong>Explore the world of impactful news with CitiNewsroom on WhatsApp!<\/strong><\/em><\/p>\n<p><em><strong>Click on the link to join the Citi Newsroom channel for curated, meaningful stories tailored just for YOU: https:\/\/whatsapp.com\/channel\/0029VaCYzPRAYlUPudDDe53x<\/strong><\/em><\/p>\n<p><em><strong>No spams, just the stories that truly matter! #StayInformed #CitiNewsroom #CNRDigital<\/strong><\/em><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Deputy Minister for Finance, Dr Stephen Amoah, has intimated that the flagbearer of the New Patriotic Party (NPP), Dr. Mahamudu Bawumia, will draft a long-term national framework that will fight and reverse the Cedi\u2019s sharp depreciation against the US dollar if he is elected president. The former Microfinance and Small Loans Centre (MASLOC) boss [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":184764,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-184763","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Bawumia will design long-term framework to halt cedi depreciation - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/05\/30\/bawumia-will-design-long-term-framework-to-halt-cedi-depreciation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bawumia will design long-term framework to halt cedi depreciation - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"The Deputy Minister for Finance, Dr Stephen Amoah, has intimated that the flagbearer of the New Patriotic Party (NPP), Dr. Mahamudu Bawumia, will draft a long-term national framework that will fight and reverse the Cedi\u2019s sharp depreciation against the US dollar if he is elected president. 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