Dr Mahamudu Bawumia says they’ve arrested depreciation of the cedi
Dr Mahamudu Bawumia says they’ve arrested depreciation of the cedi and that it is doing far better than it was during their opponent’s era. The Vice President, Dr Mahamudu Bawumia insists that Ghana’s exchange rate has fared better under the Akufo-Addo-led government than the previous administration led by former President John Dramani Mahama. Dr Bawumia…
Dr Mahamudu Bawumia says they’ve arrested depreciation of the cedi and that it is doing far better than it was during their opponent’s era.
The Vice President, Dr Mahamudu Bawumia insists that Ghana’s exchange rate has fared better under the Akufo-Addo-led government than the previous administration led by former President John Dramani Mahama.
Dr Bawumia took a bold step to defend the cedi, which according to the opposition National Democratic Congress (NDC), is depreciating against other major world currencies.
While defending the government’s macroeconomic performance in an interview on Joy News, Dr Bawumia maintained that the current depreciation of the cedi is 50 percent less than the erstwhile National Democratic Congress (NDC) administration.
Dr Bawumia noted:
“Fundamentally, we have managed the cedi much better by all accounts. We did arrest the depreciation of the cedi and if you look at the records in terms of the depreciation of the cedi in the last eight years, since the NPP came into power, the rate of the cedi depreciation is 50 percent less than what it was before. That is what the data shows. So yes indeed, we have arrested the depreciation of the cedi and brought down inflation and interest rates. We have also brought down the deficit and increased growth. We have reduced unemployment, reduced the price of electricity and water and created many jobs. We are the only government that had been able to do that,”.
Source: Citinewsroom.com
