Isaac Adongo is a Ghanaian politician and member of the Seventh Parliament of the Fourth Republic of Ghana representing the Bolgatanga Central Constituency in the Upper East Region on the ticket of the National Democratic Congress has rubbished the Bank of Ghana’s measures to Stabilise cedi. The deputy ranking of the Finance committee has questioned the practicality and effectiveness of measures announced by the Bank of Ghana to deal the depreciation of the cedi against the US dollar.
According to Hon. Adongo, the scarcity of the dollar has made it very difficult for community businesses to operate even though the Central Bank has been quoting lower interbank rates. Sharing ideas on the president’s measures to control the cedi depreciation and bringing the economy back to it’s healthy status, Mr Adongo stated that the dollar is now in the hands of the black market operators popularly known as Abochi. He then emphasize on the fact that the Bank of Ghana should be blame for the problem the cedi is facing now.
He later argued that due to measures the BoG has put in place, it now going to be very difficulty for the busines community to compete.
Should we hold the Bank of Ghana responsible for the depreciation of the cedi? Let me know your thoughts in the comment section below.
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