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Bawumia pats BoG and Finance ministry on the back for 2.9 per cent cedi depreciation

Bawumia pats BoG and Finance ministry on the back for 2.9 per cent cedi depreciation

Head of the Economic Management Team (EMT) Dr Mahamudu Bawumia says the depreciation of the Cedi has not been at the front burner of political discussions on the campaign trial largely because the currency has depreciated for only 2.9 per cent this election year

“The whole year so far, the cedi has only depreciated for just 2.9 per cent in an election year. And this is why you are not hearing so many talks about depreciation,” he noted.

Dr Bawumia asserts that sound monetary and fiscal policies by the BoG and finance ministry are responsible for producing what he described as “very splendid results.”

He went on to tout the downward trend of interest rate, exchange rate depreciation and inflation.

The Vice President said this when he met with private school teachers and members of the informal sector at Abossey Okai in the Ablekuma Central Constituency.

Addressing concerns of the private school teachers, Dr Bawumia said government is looking at how to cushion the teachers whose lives have been adversely affected by the coronavirus pandemic.

SOURCEAdomonline.com

 

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