Cedi once again the most successful currency of Africa; fourth in the world – Adongo

Company News of Friday, April 5, 2019

Source: kasapafmonline.com

2019-04-05

A member of the Bolgatanga Central Parliament and a member of Parliament's Finance Committee, Isaac Adongo said the Cedi had "returned to its unenviable track record of Africa's worst performing currency."

According to him, the Cedi is currently the fourth worst performing currency in the world, with Bloomberg's supply.

Conference Thursday in Accra under the auspices of the Coalition for the Restoration (CFR), pressure group affiliated to the National Democratic Congress (NDC), an opposition party, just a day after the Vice President, Mr. Mahamudu Bawumia, head of the Economic Management Team S & # 39; addressing a public badembly on Ghana's economy, the Hon. Adongo urged Veep Bawumia to give up spoiling Ghana at the expense of the International community.

"His Excellency the Vice President made a lot of profound statements yesterday that were not based on facts. So, even as the people of Ghana were wondering if it was the economy we knew or if we had suddenly been transported to paradise, the international community began to speak out. I regret to report and warn his Excellency the Vice-President not to plunge the country into international shame again.

"Yesterday, Bloomberg reported that several hours after the Vice President made some of the frightening claims, the Cedi returned to its unenviable track record of the worst performing currency in Africa. Bloomberg reported that the Cedi was negotiating yesterday at 5:51 while the Vice President was in Ghana to celebrate this catastrophic performance and shame on us from the international community. This time he was accompanied by us becoming the fourth worst currency in the world.

Mr. Adongo added, "This show is very disturbing for many reasons. Ghanaians recently went to beg the international community to lend us $ 3 billion. We badured them that with the exit of the IMF, we were going to be very disciplined and that we were going to make sure that the tightrope we followed to support the economy and build the buffers that we had. they wanted so seriously that we build will be maintained. The Vice President told the world that we did not want to follow the IMF. In fact, it was thanks to him that we could not waste hard currency to support the cedi. "