His comments come hours after the Economic Management Team, led by Bawumia held a town hall meeting at the College of Physicians and Surgeons in Accra.

Bawumia speaking at the lecture made some revelations on the economy.

He said an inconsistency in the timing of seven prior actions of the International Monetary Fund on reserves target is largely to blame for the recent depreciation of the Ghana cedi.

"The most important and the proximate cause of the recent depreciation of the cedi is the time inconsistency of the IMF prior action on the reserves target.

Vice President Dr Mahamudu Bawumia
Vice President Dr Mahamudu Bawumia

"At the end of January, as part of the seven prior actions to get to the IMF board and the completion of the IMF programme, the IMF gave Ghana seven actions to complete before March 15.

"One of the conditions that the Bank of Ghana had to meet was to increase its net international reserves to the level of December 2018," he added.

But the NDC will also hold public lecture to review the economy to counter Bawumia.

In a statement issued by Asiedu Nketia, it said Bawumia's lecture was full of "patent misstatements laced with populist rhetoric", similar to his posturing in 2016.

Former President John Mahama will today, Thursday, April 4, 2019, be the guest of honour at the lecture.

The lecture, which will take place at the Mensvic Hotel at East Legon in Accra, will be addressed by the NDC Member of Parliament for Bolgatanta Central constituency and financial analyst, Isaac Adongo.

It is under the theme 'Ghana's rising fiscal risks, financial crunch, and external vulnerabilities: A post-mortem of the Extended Credit Facility (ECF) Programme and a preview of the economy without the International Monetary Fund (IMF)'.