Ghana�s Cedi Is Wobbling And Thankfully, The Military Hasn�t Acted - Otumfuo

Between the periods of 1966 and 1981, the political history of Ghana has grappled with ceaseless coup d��tats. Frontrunners of these campaigns were mostly from a military background, and so often, cited economic mismanagement as the basis for their actions. Currently, the issue of economic mismanagement is still prevalent under the current government, and the country's currency (Ghana cedi), has for some time now, performed badly while its value has kept declining at a fast rate. Prices of items have escalated within a short period of time and several measures outlined by government to safeguard the cedi, are yet to yield any positive results. This notwithstanding, the head of the Ashanti Kingdom, Otumfuo Osei Tutu II, is glad the military has abstained from interfering with the country's constitutional powers. And it is on this note that His Majesty Otumfuo Osei Tutu II has commended the military service. Speaking at the 19th annual awards night of the Ghana Journalist Association (GJA) at the State House, Otumfuo Osei Tutu II, recounted how in time past, �a devaluation of the cedi was an instant signal for a military take-over of government�. The cedi in his view was so crucial to the stability of the national economy. He therefore charged politicians not to place such issues under the realm of partisan politics but to strife to insulate the cedi from political and other pressures likely to undermine confidence and reinforce the institutional framework for defending and protecting it in the market place. The Asantehene concluded by mentioning that Ghana, �cannot have sustainable development without sound sustainable economic policies�.