General News of Monday, 3 February 2014
Gabby Asare Otchere-Darko, a close aide to the 2012 Presidential Candidate of the main opposition New Patriotic Party (NPP), Nana Addo Dankwa Akufo-Addo says Archbishop Nicholas Duncan-Williams’ prayers for the cedi to bounce back against the dollar is misdirected.
Mr Otchere-Darko wrote on his facebook wall that: “Could any patriot close to Trassacco Village go and advise Bishop Duncan-Williams to go the direct route by praying for the NPP instead because this government can't save the cedi. It calls for competent managers of the economy”.
He also wrote: ‘And God listened and responded, “My son Duncan, if your people want me to save the cedi, tell them to at least meet me half way: they should vote for a government that can manage the economy”.
Leading his followers, in Church on Sunday February 2, 2013, to pray for the recovery of the fast depreciating local currency, the Presiding Bishop and General Overseer of the Christian Action Faith Ministries (CAFM) headquartered in the national capital, Accra, said: “…I hold up the cedi with prayer and I command the cedi to recover and I declare the cedi will not fall; it will not fall any further. I command the cedi to climb. I command the resurrection of the cedi. I command and release a miracle for the economy”.
The cedi has already depreciated by three per cent against the major international currencies this month. The US dollar, which sold at Ghc2.20 on the local foreign exchange market before Christmas last year, now sells at Ghc2.60. The British pound, which sold at Ghc3 now sells at Ghc4.20. The euro and CFA are also selling at Ghc3.50 and Ghc4.80 respectively. In 2013, the local currency suffered 17-per cent depreciation.
The year-on-year depreciation shows a 21.96 per cent depreciation of the cedi against the dollar; 28.88 per cent against the pound sterling; 23.98 per cent against the euro and 25.54 per cent against the Swiss franc.
The Bank of Ghana recently injected $20 million into critical areas of the economy as part of efforts to shore up the cedi.
Archbishop Duncan-Williams believes Satan has his hands in the affairs of the falling currency thus the need for divine intervention.
“In the name of Jesus, Satan take your hands off the President; take your hands off the Central Bank and the Finance Minister. Say we release innovation for the President, my God, the Governor of the Bank of Ghana, Central Bank, in the name of Jesus Christ the son of God, the Finance Minister. Say we command new ideas, breakthroughs and a miracle for the economy. Let the cedi rise in Jesus name”, he led in prayer.