Vice-President Dr Mahamudu Bawumia has stated that the Ghana Cedi is performing very well under the New Patriotic Party (NPP) administration.
Speaking on Kumasi based Ash FM, Bawumia noted that the Cedi used to run like Usain Bolt under the National Democratic Congress (NDC), however, they’ve addressed that kind of depreciation.
He noted that this year’s depreciation has been only 2 percent, the lowest since 1992 despite the Covid-19 pandemic.
He said, “we are not operating a fixed exchange rate regime; we are operating a flexible exchange rate, so, the rate won’t be stagnant, it will move, but the rate of movement is what counts”.
“It used to be running like Usain Bolt under the NDC but we have arrested that kind of depreciation”, the Vice President noted.
Source: GhanaFeed.com