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A dollar would have been GHC 50 if the NPP were not in power – Carlos Ahenkorah

Carlos Ahenkorah, the Member of Parliament for Tema West has called on Ghanaians to be grateful that the New Patriotic Party (NPP) is currently in power.

Carlos Ahenkorah

He said the current economic challenges would have been worse if the opposition National Democratic Congress (NDC) were leading the country.

Speaking on Accra based UTV, Mr. Ahenkorah said the exchange rate would have hit fifty cedis to a dollar.

“If it were not the NPP government in power and it was another other government like a dollar would be 50 cedis. This is because the wisdom and policies the handlers of the economy have initiated, for example the ‘Gold For Oil’ deal have brought the pressure on the dollar down.

"These are some of the reasons why the government has been able to contain the dollar till now. If you observe from Januray to now, the level of depreciation is just 14% on the average. I am not saying the 14% is good but it is far far better than what the NDC would have delivered if they were in power”, he said in Twi.

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Relatedly, Dennis Miracles Aboagye, spokesperson for the Mahamudu Bawumia Campaign Team has also said the exchange rate would have been worse under the NDC.

He said the governing New Patriotic Party (NPP) has done well with the handling of the cedi to dollar rate considering the challenges it has been bedeviled with.

Speaking on Starr Chat with Bola Ray, Mr. Aboagye said: “I am very sure that if in August 2014 the dollar was going that fast, If the same managers were here we would be buying the dollar at GHc25. Can you tell me what was happening in 2014 for the Cedi to move from 1.2 to 3.9 Cedi to the dollar?

“When you are running an organization you run it with conditions, the condition will determine where you are moving your organization to. In Ghana today the challenges we suffer in the global economy, if these managers were the ones in charge between 2020 and now we would be buying dollars at GHc25 or Ghc30. Because in 2014 we had no reason to have the dollar where it was,” Mr. Aboagye stated.

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He continued: “I can tell you what COVID-19 has done to us, I can tell you what the Ukraine-Russia war has done to us. I can tell you what the challenges in Asia have done to us. Can you tell me what was happening in 2014? Mention, just tell me one.”

This comes on the back of the consistent rise of the cedi to dollar rates which currently stands at above GHc14 for the US dollar.

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