"The economy is in tatters; nothing works, the government is just giving us false hopes – Kwakye Ofosu

Company News on Tuesday March 19, 2019

Source: peacefmonline.com

2019-03-19

Former Deputy Information Minister Felix Kwakye Ofosu has criticized the ruling New Patriotic Party (NPP) as "the worst management of the economy since the advent of the fourth Republic".

According to him, if the NPP had good economic managers, the cedi which continues to depreciate would have already exploded.

Since the beginning of the year, the cedi has depreciated against the US dollar against the US dollar, from 4.8 to 5.7 GHC, raising concerns among companies, both locally and internationally .

Finance Minister Ken Ofori-Atta, announcing the government's short-term intervention to save the cedi, said, "We are going after; $ 300 million, $ 600 million and $ 750 million and $ 3 billion, and [I think] it should be fine. And all this should happen in the next two or three weeks.

On Tuesday, Felix Ofosu Kwakye, during a panel discussion on Adom TV's "Badwam" program, said the government was "cheating" Ghanaians and that short-term measures would not solve the real cause of the depreciation.

According to him, "It's not true that the cedi is gaining weight. . . they do not tell the truth to Ghanaians. . . the economy is in tatters; nothing works. . . they only give us false hopes. . . if they claim that a little money comes to fire on the cedi, they deceive you. . . the reality on the ground is different … "

He then asked the NPP, who boasted of being an economic guru, "to admit and admit that he failed; they claimed that they had economic managers. . . they brought untold suffering to the Ghanaians. They should tell the truth to Ghanaians so we know what to do; because it's going to get harder. "

However, Henry Nana Boakye, the national youth organizer of NPP, better known as Nana B, was not in agreement.

He said that although he was not happy with the cedi's depreciation, economics managers felt that "nuclear power plants are better managers of the economy" than the NDC.

Meanwhile, Nana B is confident with the measures the government is putting in place, the cedi will soon appreciate.