Blame Bawumia for cedi depreciation not innocent economists – Dr Apaak to Dr Kwakye

The Member of Parliament for Builsa South, Dr. Clement Apaak has said that the New Patriotic Party (NPP) flag bearer, Dr. Mahamudu Bawumia must be blamed for the depreciation of Ghana’s currency cedi against major currencies.

This comes on the back of the Director of Research at the Institute of Economic Affairs (IEA), Dr. J. K Kwakye stating that the cedi depreciation is embarrassing to economists in the country adding that they have failed Ghanaians.

“How much more cedi depreciation can we tolerate? Why are we all sitting down while our currency is being extinguished?

“The cedi depreciation should be embarrassing to all economists. We seem to have failed Ghanaians”, Dr. Kwakye stated on X.

The Ghana cedi is currently been bought at Ghc16 cedis to a dollar while a pound is sold for GHc20.

Responding to Dr. Kwakye’s worry, the Builsa South lawmaker stated that the NPP has failed in all spheres of the economy and must be voted out.

“Dr. Kwakye, with due respect, direct this to DMB, the NPP running mate, and the current chair of the EMT. DMB and the failed NPP government remain a part and are solely responsible. Have you forgotten the several lectures DMB delivered as a running mate on the economy?

“Have you forgotten how he lambasted JDM and his NDC government for ostensibly superintending over a weak cedi when the exchange rate was 4ghc to 1 USD? As vice president, didn’t DMB tell us he had arrested the dollar, locked it up, and given the key to the IGP?” Dr. Apaak asked in a tweet on X.

He continued: “Have you forgotten that he subsequently listed as an achievement a stable currency? Please call him and boss out for taking the cedi to dollar ratio from 1:4 to 1:16. Say it as it is, be bold. Say the NPP has failed and doesn’t deserve a day in office beyond 6th January 2025.”