The Editor-in-Chief of the Crusading Guide Newspaper Kwaku Baako Junior has advised government communicators to desist from what he says is their “needless” gloating over the appreciation of the local currency- the Cedi- against the Dollar and other trading currencies.
According to him, government must be cautious about taking glory for the seeming stability of the local currency as several factors could be responsible for the current situation.
The Cedi in the last few months has seen close to a 40% depreciation against the dollar and other currencies.
But the Central Bank’s review of its directives on the use of foreign exchange (forex) to save the free fall of the currency appears to be having some positive impact as the Cedi continues to gain strength against major foreign currencies.
The latest euro bond and inflows from the cocoa syndicated loan have also impacted on the cedi, making it regain its lost glory.
Some government communicators have attributed the development to prudent economic decisions by the government.
But speaking to Asempa FM, Baako said government cannot claim glory for the development.
“ I am surprised that government communicators and even some ministers are all over the place on this Cedi-Dollar matter. If I were them, I would have kept quiet for a while.
People in government who talk on these issues, sometimes they should relax, they should keep quiet and let the reality check itself work. Later when things don’t go the way they expect, they will then come back and find means to rationalise it” he stated.
Source: GhanaWeb
