After just over two years in office, the President seems to have woken up from his slumber and has promised Ghanaians that the steep depreciation of the Ghanaian cedi against every major currency in the world is going to be halted.
According to Nana Akufo-Addo, his government has taken note of the cedi’s depreciation and are taking steps to ‘arrest’ it.
Reversing the depreciation of the cedi was one of the biggest promises of the NPP which helped them kick out the previous NDC government, with then running mate Mahamudu Bawumia positioning himself as the best economic guru in Ghanaian history who would ‘arrest’ the cedi with just a snap of his fingers.
The reality, however, has been massively different as the cedi has just kept falling since the NPP came to power, with the dollar now trading at over 5cedis and the pounds over 7 cedis.
However, for some reason, the President claims they are now going to arrest it and they have put many policies in place to ensure the cedi’s fall is halted.
“I am extremely upset and anxious about it, but I want to assure you that all efforts are being made to arrest the decline and restore the cedi to stability,” the President said.
Don’t hold your breath.