The Ranking Member on the Finance Committee of Parliament, Isaac Adongo, has responded to criticisms from the Minister of Finance, Dr Amin Adam, by stating that his comments on the dollar were merely aimed at telling Ghanaians the truth. 

Dr Amin Adam had criticised Adongo for advising businesses to purchase dollars if needed.

During a joint press conference with the Bank of Ghana and IMF officials, Dr Adam criticised the Bolga Central MP and assured that the government remains fully committed to stabilising the exchange rate. 

He also warned against speculating on the cedi’s current challenges, emphasising that such actions exacerbate the currency's problems.

• Read also: Cedi problem largely caused by speculation – Finance Minister slams Adongo for inciting people

Isaac Adongo reacted to these comments by challenging the notion that his advice constituted speculation, as described by the Finance Minister. 

He argued that his remarks were based on facts rather than speculation.

In an interview with Citi FM on Monday, July 1, Adongo insisted that he does not engage in speculation but rather provides truthful and factual information. 

He defended his stance, asserting that his advice was honest and intended to inform Ghanaians accurately.

“What did I say that is not true? You said that after what you have done we should look forward to the dollar the following week, that was last week. Where is the dollar now? If you watch that video, you would have noticed that I was admonishing the people to desist from speculative buying but if you need money or dollars to do your business, don’t rely on what the finance minister said to fool you to your own detriment."

“So, if you needed dollars to do your business, by all means, you should go ahead and buy them. How is that unpatriotic?"

“In any case, are we not managing this economy to support businessmen as well? So, if I am asking the businessman to continue with his rational economic decision, how do you call that speculation…If the man needed a dollar to buy and it was GH¢15.5 and he didn’t buy it, today, it is GH¢15.7. Would the finance minister give him the additional monies that have been added to go and buy the dollar?” he quizzed.