Aspiring Youth Organiser of the National Democratic Congress (NDC), George Opare Addo has called on the Economic Management Team (EMT) of the Akufo-Addo administration to come to the National Democratic Congress (NDC) for advice on how to save the falling cedi.
The Bank of Ghana (BoG) has stepped up its supply of United States (US) dollars to meet daily demands for foreign exchange as global pressures and the exit of investors from emerging markets cause the cedi to depreciate.
According to a source at the BoG, the central bank had sold $157 million to banks this month, while in August this year, it pumped in $283.4 million sale to the banks.
The move is to stem the growing depreciation of the cedi, which has dropped by 6.9 per cent this year, more than the cumulative depreciation of 4.7 per cent for the whole of 2017.
The cedi, which was trading at GH¢4.42 to the dollar in January this year, is now valued at GH¢4.78 to the dollar at the interbank rates but is trading at GH¢4.94 at some forex Bureaux in Accra.
Commenting on this on Adom TV on Friday as monitored by GhanaNewsPage.Com, Opare Addo said the NPP should bow their heads in shame for woefully managing the country’s economy.
The former Akwapim North MCE said the main opposition party, the NDC will offer the necessary advice on saving the cedi when approached by the government.
“As patriotic as we are, when they call us, we will come to the table…we won’t be like the NPP that didn’t attend our economic forum…,” he said.
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Responding to this on the same, National Youth Organiser of the NPP, Henry Nana Boakye said the NDC had never been better managers of the economy and hence called on them to keep their advice to themselves.
He said the indicators showed that the NDC under former President John Mahama was the weakest in the country’s history.