Blame Parliament For The Depreciation Of The Ghana Cedi – Gideon Boako

Vice President Dr. Mahamudu Bawumia’s spokesperson has encouraged Parliamentarians to reach an agreement to alleviate the country’s economic problems.

If Members of Parliament continue to battle each other, the country’s currency depreciation and economic troubles would worsen, according to Dr. Gideon Boako.

He feels that MPs’ continued wrongdoing does not inspire investors to invest in the economy.

His remarks came in the wake of the country’s high cost of living, which has been exacerbated by a number of factors, including price increases in fuel, transportation, products, and services.

He said that the government had planned how it would resurrect the economy and get the country back on track after COVID-19.

According to him, every investor will be terrified to pump money into the economy because of the actions of Parliamentarians, notably the Minority, who are seen fisting on one another and strongly criticizing the government’s 2022 budget statement.

According to Dr. Boako, “The problems in Parliament and the looming uncertainty over the government budget, without a question, any economy in such a situation will see its currency depreciate. That is why we must inform our Members of Parliament that this is not about the NPP or the NDC. Finally, whether you are a member of the NPP, the NDC, a legislator, or a citizen, the cedi’s depreciation versus the dollar affects you in some manner.”

He continued, ” “Other variables will be identified by any economic student conducting research to determine the cause of the cedi’s severe devaluation, but this will be a key contributory factor. We shouldn’t play with it because, at the end of the day, we’re all suffering…a it’s source of concern.”

“…to hold the government budget hostage and play with it and not approve it for political purposes, the ramifications go beyond the government doesn’t have the right to make certain expenditures, but what matters is the effect on our currency, which you shouldn’t toy with at all,” he said.