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A member of the National Democratic Congress (NDC) Godwin Edudzi Tameklo has said the government must admit that it has failed in managing the economy.
Edudzi Tameklo recounted that when the governing New Patriotic Party (NPP) took over in 2017, the exchange rate was One Dollar to Four Cedis but at the moment, it has gone up to One Dollar to Twelve Cedis.
Contributing to a discussion on the criticisms against the government by Assin Central Member of Parliament Kennedy Agyapong, on the Big Issue on TV3 Monday, July 17, Mr Tameklo who is also a private legal practitioner said “The records today as shown by Ken Agyapong are that you are dealing with inflation at 42 percent, the exchange rate is One Dollar to twelve Cedis, you took it from One Dollar to Four Cedis, that is your record.”
He added, “…We will hold you to the fire of accountability and we are not here to please anybody.”
Your primary responsibility as the chair of the economic management team is to stabilize food prices, inflation and the exchange rate. All these 3 indicators are on the low – Edudzi Tameklo to Vice President, Dr. Bawumia#TV3NewDay pic.twitter.com/J5PRZvP4nL
— #TV3GH (@tv3_ghana) July 17, 2023
Mr Kennedgy Agyapong who is an aspiring flagbearer of the New Patriotic Party (NPP) fired the government for the poor management of the local currency.
He stated that in March 2022, he had $40 million in Cedi equivalent, but by August of that same year, the value had dropped to $16 million because of the depreciation of the Cedi.
Although Mr Agyapong did not mention any name, Vice President Dr Mahamudu Bawumia who is also the head of the economic management team and an aspiring flagbearer of the NPP is usually blamed for the poor performance of the Cedi against the major trading ones, especially the Dollar.
As part of his campaign tour at Kintampo East on Sunday, July 16 to be elected flagbearer, Mr Ken Agyapong who is also an Assin Central lawmaker said “We will have troubles if we don’t do a clean campaign because I will reply to every claim made against me.
“You call yourself a strategist but when we were taking over power the Dollar was 4 Cedis, today One Dollar is Twelve Cedis and yet you call yourself a strategist.
“In March 2022 I had 40 million Dollars in Cedi equivalent, in August 2022 the value of the 40 million dollars had dropped to 16 million.”
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