Mahdi Mohammed Gibril, has said the only rescue Ghanaians need from the incompetence, economic hardship and pain under the New Patriotic Party (NPP) is the return of former President John Dramani Mahama as president.
Speaking on Frontline on Rainbow Radio 87.5Fm, the former deputy national organizer said, citizens are currently undergoing serious financial crisis due to the poor performance of President Nana Akufo-Addo.
Touching on the depreciation of the cedi he said Vice President Dr. Mahamaudu Bawumia told Ghanaians he had arrested the falling cedi, locked it under key and handed it over to the IGP.
“For the year, the cedi has appreciated in value. When we came in, it was running…essentially we have arrested it,” Dr. Bawumia asserted when he addressed a gathering to mark one hundred days in office by the NPP on Monday.
But Mahdi Gibril says the cedi has fallen historically with importers struggling to import and do business.
The fall of the cedi he said will also affect the capital market.
The cedi’s woes had been influenced by the sudden demand for dollars by businesses in the country to finance their imports.
The local currency which was trading at around ¢4.80 some weeks ago has now hit the ¢5.48 range.
Working with the figures put out by commercial banks the Ghana cedi might have depreciated against the dollar by more than 10 per cent as at the end of 2018.
Some financial experts have argued that unless the Bank of Ghana (BoG) increases the supply of dollars to meet the rising demand, the local currency could depreciate further in the coming weeks.
Mahdi Gibril further slammed government for failing to put money in the pockets of Ghanaians like it promised.
He said, ‘’the only thing left is for the NDC to return back to office in 2020. The NDC will return and give Ghanaians the best of leadership and transform the economy which the NPP is bent on collapsing.’’