Deputy Finance Minister Rejects Blame for Cedi Depreciation
Deputy Finance Minister, Dr. Stephen Amoah, has pushed back against critics attributing the current depreciation of the cedi to President Akufo-Addo’s administration.
During a media interaction on Wednesday, May 29, the Nhyiaeso MP argued that cedi depreciation has been a persistent issue across various successive governments and is not unique to the current administration.
Dr. Amoah attributed the depreciation to the import-driven nature of the country’s economy, emphasizing that it is a longstanding issue. He criticized those attributing the problem solely to the current government, labeling their stance as “unconscious incompetence” or “intellectual dishonesty.”
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While acknowledging the challenge, Dr. Amoah hinted at a long-term framework to address cedi depreciation under the leadership of Dr. Bawumia, should he become President. He emphasized the need for a nationalistic approach to tackle the issue and underscored the importance of transitioning towards a less import-dependent economy to mitigate currency volatility.
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