‘Arrest the cedi’-Apaak tells ‘Competent Bawumia’

    /    Mar 12, 2017   /     Business  /    Comments are closed  /    199 Views

The opposition NDC is impressing on the Nana Addo led administration especially the Vice President, Dr. Mohammadu Bawumia to fix the Ghana economy in the shortest possible time.

The local currency has been performing poorly for some time with the US Dollar currently selling at 4cedis 61 pesewas on the interbank Forex market.

Industry players have lamented the situation with many calling on the government to fix the situation.

The Senior Minister, Yaw Osafo Marfo who has blamed the situation on the bad decisions of the erstwhile NDC government says interventions announced in the 2017 budget are enough to address the challenges with the cedi.

But in an interview on the issue, former Presidential staffer, and  current MP for Builsa South. Dr. Clement Abasinaab Apaak says the NPP government to must walk the talk.

“We are calling on the current the government particularly the vice president because before he became the vice president he had engaged Ghanaians both home and abroad and indeed the international community on a series of lectures largely about the economy and what he and his party had perceived was not going well. And the impression we all got including many Ghanaians was that they had the solutions to the challenges we were facing.”

“So if on the basis of these arguments persuasively , he and his boss, the President, are now in charge of the affairs of this country, then logically we have every reason to expect that he would be able to arrest the cedi as he has said on numerous occasions,”

Dr. Apaak who was speaking on Citi FM’s News analysis programme, The Big Issue on Saturday [March 11, 2017], argues that their criticism doesnt mean they do not appreciate the challenges the Ghanaian economy is facing.

“That is not to say that we don’t recognize as we had argued all along that there were some fundamental issues that go to the core and foundation of our economy which has implications on how well our currency performs vis-à-vis other global currencies particularly the dollar. ”

He continued that they in the NDC had always explained that Ghana is largely an import dependent country, “we don’t produce much of what we consume, we are also affected by global turbulence in terms of price vacillations. We had made all these arguments but they [NPP] said no, and that it was as a result of incompetence. Well we now have a competent team in place so arrest the cedi. That is the argument we are making.”

Suraya Alidu Malititi | kapital971.com

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