Kweku Baako On Cedi Free Fall: I Want To Believe In Finance Min. But …. | Policy

The editor of the New Crusading Guide, Abdul Malik Kweku Baako Jnr, said that unless the policy is excluded from the cedi depreciation, it will be difficult to find a lasting solution to the depreciation.

The cedi has depreciated by 8.5% since January 2019.

Currency badysts say investors are withdrawing their money from the country, causing the value of the currency to fall.

Over the years, the two main political parties: the ruling party, the New Patriotic Party (NPP), and the opposition National Democratic Congress (NDC) have engaged in a "cedi policy". ". play politics with the fall of the cedi.

The NDC is currently on the neck of the nuclear power plant, especially Vice President Mahamudu Bawumia to stabilize the cedi that is now lagging behind the dollar at 5.62 GHC.

Finance Minister Ken Ofori-Atta said the Cedi would begin to appreciate the main currencies two weeks from now.

He said the government is expecting significant foreign currency inflows into the country to help reverse the value of the cedi.

"We are getting about $ 300 million from COCOBOD and another $ 600 million from COCOBOD in about a month. We have officially launched our Eurobond which will rise to $ 3 billion and should be finalized in the coming weeks. With the kind of fundraising I've talked about; I think everything will be over and we will realize that it is only a jolt … and that it should happen in the next two weeks or so, "he said.

But Kweku Baako, who spoke about this in Joy's Newsfile program, said, "The sooner we eliminate politicization, the better."

On the badurances of the Minister of Finance, Kweku Baako said, "I want to believe what he says, but I wonder if the story actually corroborates what he says, we have already seen this order before …." recycles the same old story, more currency in the economy … I know it in the short term, in the medium term maybe it's prescriptions that you can apply and implement, but it has to come with others factors, some others to at least bring some relief … unfortunately, we have a history of politicization of this particular issue of the depreciation of the cedi …

Unless we all agree on doing politics with this, we will not find a solution "the same situation will arise even if the NDC takes power"

"There is no miracle solution to this challenge …", he added.