Whoever Is Dealing With The Cedi Is Not Doing A Good Work – Kofi Bentil

Senior Vice President of policy think tank, IMANI Africa, Kofi Bentil says whoever is working on bringing the glory of the cedi back is 'not doing a good job'

Whoever is dealing with it is not doing a good job. If you claim to be working hard at something but you are not solving the problem, you don’t know what you are doing because clearly, the problem is not being solved. We all need to find the reason why our cedi does what it does” he said during a panel discussion on Joy FM's newsfile programme, Saturday.

The cedi has depreciated by 8.5 percent since January 2019, reaching a record high of 5.60 in March. As at 15th March 2019, the cedi was behind the dollar at GHC5.62.

According to Mr. Bentil, “the cedi is like the temperature of a sick person...the temperature is a symptom; if you don't deal with the problem then the temperature can cause other problems...what the cedi rate reveals is that there is something fundamentally wrong with our economy and I don’t think we have understood it".

“We have economists in this country, department of economics, analysts, think thanks…we have people who should take this issue and analyze it. Let’s find what causes our cedi to behave this way because if we don’t cure this temperature it will start affecting our brain and start killing everything. We need to study it understand it then we can competently manage it.” he urged.