This is the right time to arrest the cedi - Ofosu Kwakye to Bawumia

A former Minister of Communication, Felix Ofosu Kwakye, has called on Vice President Dr. Mahamudu Bawumia to prove his worth by stabilising the cedi against the major trading currencies.

Felix Kwakye Ofosu,  former Deputy Communications of Minister

He said the claim by Dr. Bawumia that he had arrested the cedi and handed the keys to the IGP during the 100 days of the NPP government is looking comical now.

“25th March 2019 will be exactly 5-years when Bawumia organised a lecture themed ‘Restoring the Ghana Cedi’ at the Central University to brag about Ghana’s economic management. This is the time to restore the Ghana Cedi,” Kwakye Ofosu said on Adom TV’s Badwam show.

He also added that Bawumia and his boss Akufo-Addo should be blamed. My concern is the impact this is having on businesses. As we speak now import duties aren’t a joke. The interventions they’ve introduced such as the benchmark has led to the increase in calculation of the import duties. Business owners and importers are crying and to worsen the case, the cedi keeps falling,” 


“When you look at the Cedi today, it’s 5.2 against a dollar and almost 7 against a British pound. Bawumia is not delivering as expected of him as the head of the Economic Team.”

Kwakye Ofosu expressed concern about how businesses are struggling as result of the depreciating cedi, adding that spare parts dealers at Abossey Okai are in fear over an imminent increase in cost of imported spare parts due to exchange rate.

“It’s also not about pride as they [NPP] thought while in opposition. The country would be witnessing several lectures should this be happening under an NDC government. Distinguish speakers are in extinction in Ghana now because it’s the era of the NPP,” Kwakye Ofosu added.


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