Source: adomonline.com - New Patriotic Party (NPP) Member of Parliament for Ayawaso West Wuogon constituency, Emmanuel Kyeremateng Agyarko says the inconsistency in the cedi is an indication of poor economic management by government.
According to him, the rise and fall of the cedi is collapsing businesses and also making cost of living unbearable in the country.
Speaking on Adom fm’s Dwaso Nsem Wednesday, the Former Chief Executive Officer of the Food and Drugs Authority said the instability of the cedi is affecting businesses.
He further stated that the initiative by the Bank of Ghana to pump in $ 20million a day to support the cedi is not sustainable.
After months of continued depreciation which negatively affected economic activities in the country and the prices of goods and services, the cedi has seen some appreciation over the last few days after the Bank of Ghana decided to mop up more cedi by pumping more dollars into the economy.
A development Mr. Agyarko believes could be avoidable if the Mahama-led administration had listen to the vice presidential candidate of NPP,Dr. Mahamoud Bawumia’s advice on the economy few months ago.
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