‘Karma is a bitch’ – Allotey Jacobs mocks NPP on cedi depreciation

 

 

By:brightwebtv.com/Martin awuku.

Former Central Regional Chairman of the opposition National Democratic Congress (NDC) has offered a playback of New Patriotic Party (NPP) criticisms in opposition noting that, it is back to haunt them.

 

Bernard Allotey Jacobs said the depreciation of the cedi is an indicated that, the economic fundamentals of the Akufo-Addo/ Bawumia government is weak.

The cedi started the year at about 4.9 against $1 but has since dropped to about 5.4 to the dollar.

Despite the sharp decline, insists it is not a strange decline suggesting that Ghana has over the years experienced such sharp declines particularly at the start of the year when foreign investors are repatriating their profits and capital.

Deputy Minister of Finance, Kweku Kwarteng argued that the current depreciation is normal and should not be a cause of concern to the public, particularly within the business community.

But on Adom FM’s morning show Dwaso NsemTuesday, Allotey Jacobs said ‘Karma is a bitch’.
He explained that, the NPP’s criticism of the Mahama government over its handling of the cedi is now haunting them.

The former NDC Central Regional Chairman could not fathom why vice president, Dr. Mahamudu Bawumia as not found a cure for the local current which has gone “crazy”.

“The cedi is crazy and running very fast so where is Dr. Bawumia to arrest it” he scoffed.
As an immediate measure, Allotey Jacobs urged government to assembly Ghanaian economists to find a lasting solution to the depreciation of the cedi.

Source: Ghana|Adomonline.com|Adwoa