“Our importers and businessmen are struggling because of the free fall of our local currency, yet we were told by Dr. Bawumia during the NPP's celebration of its maiden 100 days in office that the dollar has been arrested and the keys handed over to the IGP. One now needs about GHC5:00 for just one dollar. Am sure he now knows the Cedi is on bail.”
These were the mocking words of founder and leader of the All People’s Congress, Hassan Ayariga in a post reaction to the current upward surge in the dollar rates much to the detriment of the Ghanaian Cedi.
Addressing a room packed with journalists, the earnest critic of the NPP government took Vice President Dr. Mahamudu Bawumia towards memory lane to remind the latter of his utterances about the performance of the Cedi while they were in opposition.
Dr. Bawumia who prior to his party winning power was fond of criticising the Mahama administration with his serial ‘lectures’ was chided by the APC founder.
“The dollar now has a mind of its own, and it's not a respecter of Dr. Bawumia. What is happening to the lengthy economic lectures and forums from the Oxford trained economist-Dr Bawumia? My elder brother.
Where are the answers to the one hundred and seventy (170) so called economic questions on Ghana's economy?
What is happening to our Ghana’s cedi and Ghanaian banks under the most intelligent and competent economist who almost turned to a self-acclaimed prophet of Ghana's economic fundamentals? He quizzed.
Hassan Ayariga further stated that “One thing is obvious, chew and pour is good for examination purpose but very bad for the world of practice. Moreover, the truth you deny in opposition will certainly confront and expose you in government. Does Dr. Bawumia now understand what his elder brother former President John Dramani Mahama meant when he admonished him to tread cautiously because he doesn't know what it takes to be president? Interesting times ahead.
"If your fundamentals are weak, the exchange rate would expose you" according to Dr. Bawumia”
The Vice President has been a subject of ridicule especially on Social media after the rate of the cedi took a dip compared to the US dollar.
In his defense however, Dr. Bawumia responded to his detractors, particularly members of the opposition NDC that the cedi is performing way better than it did during the same period last year. The Central Bank also came forward to confirm the Vice President’s statement by adding that the economy was indeed in the right trajectory.
