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Business News of Tuesday, 9 August 2022

Source: www.ghanaweb.com

FLASHBACK: We have managed the local currency more prudently – Bawumia

Vice President, Dr. Mahamudu Bawumia Vice President, Dr. Mahamudu Bawumia

On August 9, 2021, Vice President, Dr Mahamudu Bawmumia, announced that the Akufo-Addo-led government had properly managed the local currency.

According to him, the Cedi has since 1992 witnessed its best performance against major trading currencies.

Dr Mahamudu Bawumia made this known at the regional seminar of Tertiary Students Confederacy of the governing New Patriotic Party.

Read the full story originally published on August 9, 2021 by www.ghanaweb.com.

Vice President, Dr Mahamudu Bawumia has reiterated that the government of President Akufo-Addo are better managers of the local currency, the Cedi.

According to him, the local cedi has since 1992 witnessed its best performance against other foreign trading currencies.

Giving an address at the regional seminar of Tertiary Students Confederacy of the ruling New Patriotic Party, the vice president pointed that the cedi’s performance in 2020 and 2021 thus far has been prudently managed by the Economic Management Team.

“I doff my hat to the Central Bank [Bank of Ghana] for the work that they are doing in the management of the exchange rate. Cumulatively, from the beginning of the year to date, the exchange rate has depreciated by 0.6% against the US dollar, but it has appreciated by 3.6% against the Euro,” the vice president said.

Dr Bawumia further touted the stability of the local cedi this year as the best compared to the same period after an election year under the 4th republic.4

View his Timepath below:



ESA/MA

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