Blame Parliament for the depreciation of the Ghana cedi — Bawumia's spokesperson

The spokesperson of the Vice President Dr. Mahamudu Bawumia has urged Parliamentarians to come to a consensus to ease the economic hardships in the country.

According to Dr. Gideon Boako, the country may suffer worse currency depreciation and economic woes if the Members of Parliament continue to fight themselves.

He believes the persistent misbehavior of lawmakers doesn't give hope to investors to invest in the economy.

His comments come in the wake of the high cost of living resulting from various developments, including the hikes in fuel, transport, goods, and services in the country.

He said the government had planned out how it was going to revive the economy and the road to recovery from COVID-19.

Speaking on Accra-based Peace FM, he noted that due to the conduct of Parliamentarians particularly the Minority, where they are seen fisting on one another and vehemently opposing the 2022 budget statement of the government, every investor will be scared to pump money into the economy.

Dr. Boako stated that the issues in Parliament and the seeming uncertain on the government budget, no doubt about it, any economy that experiences such situation, you will suffer depreciation of your currency. That's why we have to advise our Parliamentarians that, look, it is not about NPP; it is not about NDC. In the end, if the cedi depreciates against the dollar, whether you are an NPP, NDC, Parliamentarian or citizen, it affects you in any way.

He added: Every economic student who will do analysis to trace the reason for the sharp depreciation of the cedi will get other factors but this will be a major contributory factor. We shouldn't play with it...at the end of the day, we are all suffering...it is a cause for worry.

..to hold government budget to ransom and for political reasons, play with it and not approve it, the consequences go beyond the government doesn't have the right to make certain expenditure but what is important is the effect on our currency which you shouldn't play with it at all, he stressed.

Read Full Story