Cedi struggles against US Dollar
Government holds crunch Cabinet retreat over the economy
The Vice President, Dr. Mahamudu Bawumia is expected to address the nation on the Ghanaian economy next month on April 7, 2022.
This is according to his spokesperson, Dr. Gideon Boako
Following worsening effects on the Ghanaian economy, including price hikes on fuel and basic commodities and depreciation of the Cedi, there have been calls on the Vice President to address the issues publicly.
“The Vice President, Dr. Mahamudu Bawumia, will speak next month, in April 7, 2022, also at a platform somewhere in Cape Coast, for you to see that the Government has rolled out a plan to deal with the issues,” he said.
Oveer the last two years, Ghana's economy has been faced with a multiplicity of factors.
These include the COVID-19 pandemic and Russia’s invasion of Ukraine, which have largely contributed to economic meltdown across the domestic front and the globe.
Vice President, Dr. Bawumia, who is also head of the Economic Management Team has been urged to publicly address how these factors have impacted the Ghanaian economy, as well as measures the government has taken to address the situation.
Prior to the outbreak of the coronavirus pandemic in 2020, Ghana's economy was on the rise with positive indicators, earning positive ratings from global economic watchers.
But the situation became different when COVID-19 set in with Fitch rating Ghana’s economy as B-.
However, critics of the Vice President, especially members of the opposition NDC, have incessantly demanded that the Vice President breaks his silence on the worsening economic conditions in the country.
Dr. Boako had earlier rejected claims that Dr. Bawumia was shying away from commenting on the current challenges plaguing the economy, particularly the depreciation of the cedi against the US dollar.
Vice President, Dr. Mahamudu Bawumia