Mismanagement by Akufo-Addo, Bawumia gov’t cause of Cedi’s poor performance — Sam George

The Member of Parliament (MP) for Ningo Prampram constituency, Sam George has called out the Akufo-Addo-Bawumia led government for the depreciation of the cedi.

According to him, the poor performance of the Ghanaian currency is as a result of mismanagement by the ruling government.

He grieved that the cedi is the worst performing currency on the international space.

Speaking on the ‘Good Morning Ghana’ show on Metro TV today, he said even after a whole team was put together to check the cedi, the currency is performing worse than it used to.

“It is not necessarily Ukraine-Russian, it is the mismanagement of the economy under President Akufo-Addo and Dr. Bawumia who is the head of the economic management team that after they had a whole forex all-star team put together, a team to go and investigate why the cedi was depreciating the cedi has depreciated even worse. The cedi is doing very poor on the international market,” Sam George bemoaned.

On claims that the Russia-Ukraine conflict is to blame for the hardships in the country, the Ningo Prampram lawmaker indicated that the analogy is neither here nor there.

The outspoken MP asserted that the only effect the Russian-Ukraine war had on the continent was grain.

Sam George explained, “when there was a war in Ivory Coast the people of Spain did not feel it like the people of Ghana because the Ghanaian economy had to absorb the influx of refugees. So there is the proximity of wars and its pass through effects on Europe, which will raise the 40 year highs you are talking about.”

According to him, the country’s neighbors Burkina Faso, Togo and Benin are doing better at keeping their inflation rates and cost of living at a stable point irrespective of the war.