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A dollar would have been GHc25 by now if Mahama was in power – Miracles Aboagye

Dennis Miracles Aboagye, the Communications Director for Dr. Mahamudu Bawumia has said the exchange rate would have been worse if the National Democratic Congress (NDC) was in office now.

Miracles Aboagye

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.

Several financial analysts have projected that the Ghanaian will hit between GHc16 to GHc18 to the dollar.

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