Ghana cedi start dey show dollars ‘wossop,’ but minority say e be ‘painkillers’ dey sustain am
Ghana cedi start dey show US dollars 'wossop' after en continues decline from Ghc 4.9 to a dollar at de start of 2019 to Ghc 5.90 last week there.
Businessmen for Ghana say dem dey make losses on dema businesses sake of how di cedi make unstable. In de last few days de cedi show consistent gains against de dollar, ryders e move from Ghc5.9 catch Ghc 5.4 today which still dey drop daily. Government en efforts to inject $750 million from Standard Bank bridge facility to halt the depreciation of the Cedi, funds from COCOBOD plus monies wey dem secure from de Eurobond market dey help power de cedi. Last week Finance Minister, Ken Ofori-Atta promise say dem go reverse de depreciation in two weeks, but e start dey happen just one week after en promise. Despite de gains wey de Ghana cedi start dey make, minority members for Ghana parliament say dis no be sustainable sake of government just dey survive on painkillers. "De cedi go cross GH¢6 to a dollar before half year…now dem dey on short term thinking short term thinking…who ever survived on pain killers?" Minority MP Isaac Adongo talk. Minority members predict say de cedi go drop catch Ghc6.00 to a dollar by June dis year. Information Minister, Kojo Oppong Nkrumah say minority members just dey spread falsehood so say dem go confuse Ghanaians. Instead, e be de hard work of Akufo-Addo government, Bank of Ghana den Central Bank which dey save de situation. This week, President Akufo-Addo blame de cedi depreciation partly on Ghanaians den dema taste for foreign goods, something which he say if de country resolve go help secure de Ghana cedi.