Arrest the Cedi – Bernard Mornah to Govt

The Chairman of the People’s National Convention (PNC), Bernard Mornah has urged the ruling government to work and make sure that the cedi does not depreciate any further.

Speaking at the New Patriotic Party’s (NPP) Delegate Conference on Saturday, July 7, Mr. Mornah said: “it appears that Mr. IGP has left the cells open and the cedi is depreciating and we want that the economic management team will take interest to arrest the situation for the betterment of all of us.”

The cedi was trading at 4 cedis, 41 pesewas as at May 7, but by June 7 it had depreciated by 0.7 percent to 4 cedis, 44 pesewas.

The central bank has already assured that the changes in the exchange rate are temporary; hence the cedi will soon see some stability.

However, Mr. Kofi Akpaloo, the founder of Independent People’s Party (IPP) responded to Mr. Bernard Mornah’s comments while delivering his solidarity message.

He said, “comparing to the previous administration, John Dramain Mahama’s rule, his first 18 months in government, he took the cedi from GHc1.90 to GHc3.10 within the first 18 months. He depreciated our cedi by 55% but comparing it to Nana Addo’s government, he took it from GHc4.25 on January 7 2017 and 18 months down the line it’s GHc4.70.”

“Nana Addo Dankwa has to be congratulated, his team has done and is doing it… we are so much happy that we supported the NPP in the 2016 elections and we will never regret doing that because they are on course. Nana Addo has done well and I believe he will deliver. I have never regretted voting for him,” he added.