Flashback: Cedi depreciation due to bad leadership – Akufo-Addo

Flashback: Cedi depreciation due to bad leadership – Akufo-Addo

In 2016, the President of the Republic of Ghana, Nana Akufo-Addo who was then the opposition leader of the NEW Patriotic Party (NPP) expressed shock a

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In 2016, the President of the Republic of Ghana, Nana Akufo-Addo who was then the opposition leader of the NEW Patriotic Party (NPP) expressed shock at the depreciation of the Ghana cedis against the US dollar.

He observed that the Ghana cedi which was then 3.72 against a dollar in May 4, 2016 should  be rising that fast, adding that “we should not be where we are today to buy dollar for 3.72”.

The then flagbearer of the NPP stated that the depreciation of the Ghana cedi against the dollar was as a result of bad leadership and advised citizens to vote for “change”, the New Patriotic Party (NPP).
He questioned the competence of the Mahama administration which was in power then.

Read his tweet below

On the 7th of January 2017, Nana Akufo-Addo was sworn in as President to man the affairs of Ghana.
Since then, the Ghana cedi has been falling against other major currencies and has become a source of worry to Ghanaians.

The cedi was 5.35 against a dollar on February 25, 2019, has suddenly reached 5.86 in less than a month as at March 14.

This has made a section of Ghanaians to question the economic management ability of Bank of Ghana and the Akufo-Addo government.

 

By: Hamida Shawwal /awakenewsonline.com