Vice President of Ghana Dr. Mahamadu Bawumia says although the cedi is facing some challenges, annual rate of depreciation in recent years shows that the performance of the cedi under NPP is better than the best performance under the NDC government.
Bawumia said this while speaking at the Town Hall meeting with the economic team at the College of Physicians and Surgeons in Accra,
“The data on the annual rate of depreciation in recent years shows that the performance of the cedi under NPP is better than the best performance under the previous government. Our worst is better than their best; and they say boot -for- boot. This is not boot for boot, its boot for charley wote,” he said.
Finance Minister, Ofori Atta on the floor of Parliament revealed government’s decision to set up a bi-partisan committee to investigate the depreciation of the cedi after the President Nana Addo Dankwa Akufo Addo tasked his ministry to investigate the depreciation of the cedi against the dollar and other currencies.
Finance Minister, Ken Ofori Atta, was on the floor of Parliament to brief the house on the country’s completion of the extended credit facility it entered in 2015 under the International Monetary Fund (IMF) programme.
Meanwhile Economic lecturer and Head of Finance at the University of Cape Coast (UCC), Prof. John Gachie Gatsi, says Ghana does not need bi-partisan probe into the cedi depreciation to understand the structural problems in the country.