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Minority's press conference on cedi needless - Oppong Nkrumah

The Minister of Information, Kojo Oppong Nkrumah has described the press conference held by the minority in Parliament on the decline of the cedi as needless.

Information Minister, Kojo Oppong Nkrumah

He said the encounter with the media by the NDC MPs can be described as much ado about nothing.

Speaking on Accra based Peace FM, he said the Minority have had it wrong all the time when it comes to issues on the economy.

"At first, the Minority said there will be famine like it happened in 1983 but now there is bounty harvest of food stuffs and if today they are giving another prediction of the economy, we don’t have any response for them but we will continue to work to ensure that our economy is boosted enough to create jobs for the teaming youth in the country”, he said.

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The Minister also said the NDC didn't offer any credible policy alternative on the economy during the press encounter.

"The substance of their presentation today, essentially, is that the cedi has depreciated and importers have taken a hit. This is an already acknowledged point and government has already been working how to address the situation", he added.

“The Bank of Ghana (BoG) has outlined its short term measures. The Finance Minister announced medium-term measures and today you are beginning to see a gradual recovery of the Ghanaian cedi”, he hinted.

During the briefing with the press, the Minority put the performance of the cedi at the doorsteps of government.

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Cassiel Ato Forson,, the Minority spokesperson on Finance said: "the Vice President claimed to have stabilised the cedi in the first 100 days of the NPP government. The Vice President declared that, the cedi had been arrested and the keys handed over to the Inspector General of Police. It was obvious at the time the Akufo-Addo government was only reaping the benefits of the hard work put in by the Mahama administration before its exit”. 

 The Minister also accused the Minority of making claims that always tend to be untrue, “You recall the Minority’s claim that literally Ghana has been sold to Franklin Templeton in the first issuance of the $2.25 bond and all the brouhaha that followed, which was totally unfounded. You recall the Minority’s claim that the ESLA bond transaction was going to be a failure and again at the end of it, in terms of the numbers that came, that was also unfounded”.

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