The latest exchange rate has once again exposed the "incompetence" of the current Economic Management Team led by no other than the outspoken and vibrant Vice President, Dr. Mahamudu Bawumia. Trending on social media today is the latest exchange rate and this latest rate has further worsened the depreciation situation of the Ghanaian cedi. An aide to the Former President, John Dramani Mahama shared a summary of the exchange rate to Ghanaians and this was no news to write home about.
For the big US Dollars, we need 9.4 cedis to buy and we need 9.65 cedis to sell. For the small US Dollars, we need approximately 9.1 cedis to buy and 9.65 to sell. In summary, the cedi, having broken the 8 has done the unexpected of breaking the 9, something the New Patriotic Party has not politically and electorally thought of.
In the face of this situation, famous Ghanaian social media activist, Kwame A Plus, has dropped a serious and throwback flier to expose the deceptive and incompetent nature of the current Vice President and leader of the Economic Management team as opposed to the"usual" and outspoken nature of this same Dr. Mahamudu Bawumia when he was in opposition and acting in his capacity as the running mate to candidate Nana Addo.
The surprising and now annoying aspect of the flier was that the then-running mate, Dr. Mahamudu Bawumia, had planned to as usual hold a lecture about the economy. The lecture was themed, "Restoring the Value of the Ghanaian cedi". The lecture was primarily done to perhaps give some advice to the ruling administration led by Mahama as at that time, Ghana was experiencing an unusual depreciation rate.
Other analysts also described that lecture as an attempt by the New Patriotic Party to use that machinery to score a cheap political point. Putting that aside, the current administration has been faced with a double crisis and must apply lessons from that lecture to rescue Ghana from this quagmire.
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