Dr Bawumia
Dr Mahamudu Bawumia

Currency Analyst, Samuel Ampah, is urging President Nana Addo DanKwa Akufo-Addo to sack his Economic Management Team, led by Vice President Dr Alhaji Mahamadu Bawumia and Finance Minister, Ken Ofori-Atta, for their non-performance.

To him, the rate at which the Ghana cedi has depreciated this year is a clear failure on the part of those managing the economy.

Samuel Ampah, speaking on Adom TV’s Current Affairs Show, The Big Agenda, hosted by Nana Osei Ampofo Adjei, said he has seen elsewhere that government officials come up with policies that do not help the government and such people are fired and replaced so he is still surprised those who are managing the economy are still at post despite the abysmal depreciation of the cedi.

‘Me, where I am now, I think I have seen government officials who have come up with policies which did not help the government and in fact, such people were sacked so I’m surprised we are talking about cedis, the rate at which the depreciation of the currency which has depreciated so much and government officials who are responsible for that are still sitting there,’’ Mr Ampah stated.

He explained that the president should be bold and tell his economic management team that the economy was entrusted in their hands and this is the situation at hands now and it is so bad and get them replaced.

Currently $1 is selling at Ghc 13.75, ¢14.05 to the pound and ¢12.10 to the euro.

President Nana Addo Dankwa Akufo-Addo, on his tour in the Ashanti Region, said the Finance Minister was doing well until the issue of covid hit Ghana and praised him for his good works.

The Currency Analyst was asked what he made of that accession: “Me, I don’t believe in the problem of Ukraine and Russia, you know, several economies in Africa were hit by covid, but their currencies have not depreciated significantly like Ghana.”