Amortization in Cedi: the government must admit its failure – Minority

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The minority says the government must admit that it has failed to turn the economy around to instill investor confidence and maintain the stability of the local currency, the cedi.

According to opposition MPs, the Minister of Finance must present Parliament with a new budget worthy of investor confidence.

While calling on the president and his vice-president to "concede that they failed", Cbadiel Ato Forson, a member of the European Parliament's Finance Committee, said: "The budget presented by the Minister of Finance does not can not be considered the real blueprint the economy is managed. "

Explaining this to the press on Wednesday in Parliament, NDC lawmakers said that "the credibility and viability of the budget have been completely undermined by the depreciation of the cedi".

What they said threw the economy out of order and the screenings messed up.

Forson added that confidence in the economy had been "undermined and sent bad signals to the investment community".

Accusing the government of flagrant mismanagement and poor political choices, the minority said the current situation called for "urgent measures to be taken by the government to restore economic health".

They proposed that the government "present a new budget that takes into account all the misfortunes and serious problems caused by the fall in the value of the cedi".

They are also waiting for the government to make a statement to Parliament to rebadure the country and investors about the measures taken by the government to address the instability of the economy.

The minority further proposed that the "new budget" or "declaration" indicate bold steps to attack the cedi. "

The press conference of the minority is explained by the sharp depreciation of the cedi against its main currencies used for international trade, including the dollar, last week.

The cedi depreciated from 4.9 to around 5.6 ¢ between February and March, raising fears among the business community. Cedis, however, rebounded sharply during this week, selling at 5.3 Cedis for a dollar Tuesday.