Cedi depreciation: Bawumia must forget presidential ambition – Osei Akoto

A National Democratic Congress (NDC) activist, Mr Henry Osei Akoto, has advised Vice President Mahamadu Bawumia to shelve his presidential ambition since he has failed to stabilise the cedi as the head of the Akufo-Addo government’s economic management team. According to Mr Akoto, the cedi has badly exposed Dr Bawumia, who once said: “If the fundamentals are weak, the exchange rate will expose you”. Mr Akoto offered the advice when he spoke to Emmanuel Quarshie (The Hitman) on Accra100.5FM’s morning show, Ghana Yensom, on Thursday, 20 October 2022. He said the cedi depreciation has made nonsense of the presidential ambition of Dr Bawumia. “The Vice President has, over the years, been touted as the economic wiz kid of the governing New Patriotic Party (NPP), [however], the current depreciation of the cedi has badly exposed his economic prowess,” Mr Akoto said. He said Dr Bawumia is a “book economist” who lacks practical skills. Mr Akoto warned the Vice President not to come close to the presidential race of the New Patriotic Party (NPP). He urged him to pack his baggage and go enjoy his retirement. Mr Akoto argued that should Dr Bawumia become president of Ghana, he would plunge the country into an economic abyss. In his view, the economic wizard has now become a digitalization poster boy.