A former Director General of the National Development Planning Commission (NDPC) under the NDC Administration, Dr. Nii Moi Thompson, has waded in the debate on the cedi depreciation arguing that the government is on a wrong path.
According to him, the government has been engaged in what he described as “flawed and politicized analysis or through public lectures.”
“It is clear that the cedi’s woes cannot be addressed successfully with flawed and politicized analyses, or through public lectures full of sound and fury that signify nothing.
“Addressing those woes will, instead, require sober reflection, a clear vision of the cedi’s and the economy’s future, sound policies, and disciplined action, all of which will certainly transcend government,” the former NDPC boss disclosed in an article highlighting on the local currency.
He continued “In the immediate term, as the crisis rages on, the government must begin as a matter of urgency by curbing frivolous spending, especially spending that is likely to weaken the cedi further.
“This includes the importation or purchase of luxury vehicles; a reduction in foreign travels by public officials (if they could do it at the height of Covid, they can do it now); an end to the president’s extravagant lifestyle and those of his appointees generally; an end to endless foreign “medical reviews” for public officials, including MPs; and any other spending that puts needless pressure on the cedi.”