The Director of Local Government, Decentralisation and Rural Development at the Presidency has stated that the appreciation of the cedi against all major trading currencies, specifically the dollar, is a result of deliberate policy interventions introduced by the government.
Dennis Miracles Aboagye questioned the motive behind attempts to downplay the government’s effort in stabilizing of the cedi and its appreciation against major trading currencies.
“As I speak right now if you ask (sic) me government did nothing and the dollar went up, the government has done nothing and it is coming down. What’s your problem?” Dennis Miracles Aboagye quizzed on Good Morning Ghana on Tuesday.
During his submission on Metro TV, the Director of Local Government, Decentralisation, and Rural Development at the Presidency told Annie Afua Ampofo that speculations, the novel coronavirus disease plus the implications of the Russian invasion of Ukraine largely contributed to the drastic depreciation of the Ghanaian currency and the unprecedented economic hardships.
He stated that the present predicament is not peculiar to Ghana, explaining that the United States, China, and the European Union have had their fair share of the global economic turmoil and that Ghanaians should be appreciative of the cedi gains.
“Speculation forms part of the sharp depreciation of the cedi within three weeks and that is no lie.”
“You go to Twitter and Facebook to see the NDC guys telling people that ‘go and buy dollar and hoard,” he alleged.
Dennis Miracles Aboagye further slammed the main opposition National Democratic Congress (NDC) for politicizing the country’s economy for their selfish political gains.
He believes the umbrella party has nothing better to contribute to the country’s development and their only political advantage is to paint the picture the governing NPP is a failure.
By: Bernard Ralph Adams | Metrotvonline.com | Ghana