Outspoken political talk show host, Captain Smart, has launched a vitriolic attack on Dr Mahamudu Bawumia, accusing him of bragging about his financial acumen to win political power.
“Dr Bawumia is a first-class braggart! He is a braggart, pure and simple. It is pretty obvious that he bragged about his financial acumen for political power,” the Adom FM show host pointed out.
Captain Smart says he cannot comprehend why the vice president, with all his vast understanding of economics, has stalled in salvaging the dwindling fortunes of the local currency, since assuming office in 2017.
“The Cedi has reached an all-time low against the major currencies yet those who described themselves as repository of economics when they were in opposition are not able to deliver on their promises.
“Bawumia hasn’t got a clue about what is happening and it is about time we told him we are fed-up with his rhetoric and unnecessary name calling. He must fix the problem now,” Captain Smart stressed.
He said if this was the magic wand the vice president referred to when he was in opposition, then ‘every Tom, Dig and Harry’ could offer that.
“Why is everybody quiet on this subject? The Cedi is 5.72 to a dollar and nobody is talking. We all witnessed what happened in this country when the Cedi hit 4. 8 in 2016,” the controversial journalist quizzed.
Captain Smart further took aim at Pastor Mensa Otabil, with a vicious, but thinly veiled swipe at the General Overseer of the International Central Gospel Church (ICGC).
“We know what the likes of Pastor Mensa Otabil said a few years ago. Where is he now? We must tell him his deafening silence on the Cedi depreciation is surprising”, he intimated on his ‘Fabewoso’ show.
According to him, the free fall of the Cedi could have serious financial implications for the business community, especially small businesses in the country.
Background
The performance of cedi against its major trading and intervention currency, the US dollar, has revealed that the local currency is still depreciating, steadily, as assessed in year-to-date terms.
In June, data from the Bank of Ghana’s interbank exchange market revealed that the local currency recorded its worst half-year performance since 2015.
The cedi has currently depreciated against the US dollar by 9.34 percent, year-to-date, as it was trading at GHc 5.6 to US$ 1 by the end of last week.
The sharp fall of the cedi during the early part of the year was cushioned when the central bank boosted it foreign reserves through the government issuance of a US$3 billion Eurobond as well as the enforcement of a number of forex directives.
