Bridget Otoo
Prices of goods and services continue to skyrocket with the situation evoking resentment from a section of the public feeling the pinch. For Bridget Otoo, it is about time Vice President Dr. Mahamudu Bawumia left the books that make him spew empty rhetoric and faced reality. In a series of tweets directed at the economist, Tuesday, the broadcast journalist expressed concern over how the price of a bag of cement had increased astronomically while the government appeared nonchalant. She described Dr. Bawumia as a “Bookonomist” and labelled him “Mr Do Little”. “I really want you to stand for Npp in 2024. Will be praying you win the flag-bearer ticket. I need you to talk about the fundamentals of the exchange rate on your campaign…” one of her tweets read. Another tweet which gave President Akufo-Addo a mention read: “@NAkufoAddo Cement price hitting 80/90 cedis is something I didn’t envisage. When I started selling in 2018 a bag of 32.5 cement was around 32.5 cedis including profits. Arrest the dollar @MBawumia leave IT and come for the real economy.”
Dear @NAkufoAddo Cement price hitting 80/90 cedis is something I didn’t envisage. When I started selling in 2018 a bag of 32.5 cement was around 32.5 cedis including profits. Arrest the dollar @MBawumia leave IT and come for the real economy— B. by Sekumba (@Bridget_Otoo) October 18, 2022
Bookonomist @MBawumia I really want you to stand for Npp in 2024. Will be praying you win the flag-bearer ticket . I need you to talk about the fundamentals of the exchange rate on your campaign…— B. by Sekumba (@Bridget_Otoo) October 18, 2022 Cedi depreciation The cedi’s performance against the dollar continues to worsen, affecting the prices of goods and services. Between October 10 and 14, the cedi lost 9.03% in value to the US dollar and lost 5.15% in value to the pound. On the Interbank forex rates from the Bank of Ghana on, October 18, 2022, the Ghana Cedi is trading against the dollar at a buying price of 10.8655 and a selling price of 10.8763. As compared to Monday’s trading of a buying price of 10.7115 and a selling price of 10.7223. At a forex bureau in Accra, the dollar is being bought at a rate of 12.38 and sold at a rate of 12.65. Against the Pound Sterling, the Cedi is trading at a buying price of 12.3769 and a selling price of 12.3903 as compared to Monday’s trading at a buying price of 11.9916 and a selling price of 12.0057. At a forex bureau in Accra, the pound sterling is being bought at a rate of 13.30 and sold at a rate of 13.70. The Euro is trading at a buying price of 10.6909 and a selling price of 10.7007 as compared to Monday's trading at a buying price of 10.4265 and a selling price of 10.4370. At a forex bureau in Accra, Euro is being bought at a rate of 11.55 and sold at a rate of 11.85. Fuel prices increase A liter of petrol is being sold at GH¢13.10 from the earlier GH¢11.10, while diesel is selling at a 12% increase of GH¢15.99, from the previous price of GH¢13.90. The increment in prices has come about due to a slight increment in the price of crude oil on the world market, myjoyonline reports. Also, the sharp depreciation of the Ghana cedi has been attributed to these new prices of fuel. Watch some GhanaWeb TV programmes below.
