Bawumia Predicts Further Depreciation Of The Cedi

Dr. Mahamadu Bawumia is predicting a further depreciation of the cedi against major trading currencies in the coming days if the current economic conditions in the country continuous. The former Deputy Governor of the Bank of Ghana accused the National Democratic Congress (NDC) administration of being clueless on how to handle the situation. “The NDC government does not understand what is happening to this economy. They are clueless,” he said. Speaking at a mini rally at Okaishie in the Central business district of Accra, Dr. Bawumia, who is set to partner the 2012 presidential candidate of the NPP, Nana Akufo-Addo, in the 2016 election says his party has what it takes to address the difficulties Ghanaians are going through. He promised that the NPP will create the needed conditions for Ghana's economy to pick up again. According to the 2012 vice presidential candidate of the New patriotic Party (NPP), if no significant improvement is recorded with the cedi, “in a few months, the cedi would have depreciated more in 2014 than in the entire eight years of the NPP.” Dr. Bawumia described the situation as “very serious” adding that it is time for Ghana to elect a leader who has the capability of solving the country’s economic problems.” He urged the NPP members to vote for Nana Addo in the party’s upcoming national super delegates’ congress and the presidential primaries to help him lead the party to victory in the 2016 general elections.