The Ashanti Regional Chairman of the New Patriotic Party (NPP) Bernard Antwi Boasiako popularly known as Chairman Wontumi has stated that the Akufo-Addo-led government will soon re-arrest the falling cedi from further depreciating against the dollar.
President Nana Addo Dankwa Akufo-Addo himself has admitted the economy of Ghana is going through some trying times; only dismissing concerns that these difficulties amount to a crisis; assuring his audience that the government is on top of the situation.
Akufo-Addo attributed the difficulties in the system to the “dramatic increase in crude oil prices” and the strengthening of the US dollar.
President Akufo-Addo admits that has led to “a significant and rapid depreciation of the cedi” but was quick to add that the Bank of Ghana is fighting the depreciation.
“We have to approach the foreign exchange matter medium to long-term by expanding our supply base, that’s not a crisis…they’re difficulties the system would be able to accommodate…” the President said.
In the period, the currency has weakened to 5 cedis to the dollar since last week.
During the campaign season ahead of the 2016 general elections, then running mate of Nana Akufo-Addo criticized the incumbent government for its poor handling of the economy.
Vice President Dr. Mahamudu Bawumia at the time incessantly criticised former President John Mahama for appearing clueless in halting that depreciation of the cedi.
The Vice President Dr. Mahamudu Bawumia after government 100 days in office said government has been able to arrest the free fall of the cedi in its first hundred days in office.
But Chairman Wontumi speaking to host Kwame Adinkra on Abusua FM’s morning show said the government is strengthening the fundamentals to re-arrest and jail the stubborn cedi.
“Kwame I can assure you very soon the dollar will be stable as a government is putting proper measures in place. Nana Addo government will re-arrest the stubborn dollar. Now we haven’t arrested the dollar but we will arrest the dollar soon and put it into jail and am sure it will face prosecution. I want to take this opportunity to urged Ghanaians to give Nana Addo’s government a few time to deliver” Wontumi said.