{"id":36234,"date":"2014-08-01T11:04:31","date_gmt":"2014-08-01T11:04:31","guid":{"rendered":"http:\/\/4cd.e16.myftpupload.com\/?p=36234"},"modified":"2014-08-01T14:51:58","modified_gmt":"2014-08-01T14:51:58","slug":"bawumia-criticizes-govt-over-cedi-depreciation","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2014\/08\/bawumia-criticizes-govt-over-cedi-depreciation\/","title":{"rendered":"Bawumia criticizes govt over cedi depreciation"},"content":{"rendered":"

The 2012 Vice presidential candidate of the New Patriotic Party,(NPP) Dr. Mahamadu<\/span> Bawumia has downplayed government\u2019s attempt to cite the 2007 redenomination<\/span> of the cedi<\/span> as major cause<\/span> of the fast depreciation of the cedi<\/span> to the US Dollar.<\/p>\n

Some government officials in their attempt to cover up attributed the downtrodden economy<\/span> to the redenomination of the cedi<\/span> by the John Kufuor regime.<\/p>\n

But, Dr. Mahamadu<\/span> Bawumia has debunked the assertion and claimed\u00a0 that the John Mahama led NDC administration is to blame for failing to fix the ailing economy.<\/p>\n

He explained, \u201cThere is no theory in economics anywhere in the world that can link redenomination<\/span> to exchange rate depreciation, it is not possible.\u201d<\/p>\n

He was addressing a large gathering of NPP regional, constituency and party supporters at the Raddach Memorial Lodge in Tamale where Nana Akufo Addo was overwhelmingly endorsed by the northern delegates.<\/p>\n

He urged Ghanaians to worry about the economy as according to him, the government is clueless and cannot solve the crisis.<\/p>\n

\u201cThis government has no clue what to do to resuscitate this economy, they have no idea what is going on, when you have no idea what to do you start reaching out for all sorts of ridiculous explanations.\u201d<\/p>\n

Dr. Bawumia<\/span> said holding<\/span> symposiums and fora to find solutions to Ghana\u2019s worse performing economy is a waste of the tax payers\u2019 money.<\/p>\n

He said government\u2019s attempt<\/span> in that direction was an indication of a desperate and clueless government.<\/p>\n

He maintained, \u201cthe cedi<\/span> is the worst performing currency in the whole world; we have 196 countries or 195 if you exclude Taiwan and the Ghana cedi<\/span> is the worst in terms of performance.\u201d<\/p>\n

 <\/p>\n

By: Abdul Karim Naatogmah\/citifmonline.com\/Ghana<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

The 2012 Vice presidential candidate of the New Patriotic Party,(NPP) Dr. Mahamadu Bawumia has downplayed government\u2019s attempt to cite the 2007 redenomination of the cedi as major cause of the fast depreciation of the cedi to the US Dollar. Some government officials in their attempt to cover up attributed the downtrodden economy to the redenomination […]<\/p>\n","protected":false},"author":14,"featured_media":35491,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[38],"yoast_head":"\nBawumia criticizes govt over cedi depreciation - Citi 97.3 FM - Relevant Radio. 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