The campaign manager of the opposition New Patriotic Party (NPP) says Deputy Finance Minister Fifi Kwetey must be reminded that Ghana’s economy requires competent management, not propaganda.
In the wake of a statement by the Economic Committee of the NPP faulting the government for mismanaging the economy with a devalued cedi as the result, Mr Kwetey said the NPP were being dishonest.
He said the NPP failed to tell Ghanaians the cedi lost 20 per cent of its value in 2008 alone.
According to Mr Kwetey, the cedi continued to loose value in 2009 and 2010 because of the residual effects of the NPP’s bad management of the economy.
He explained the cedi’s extraordinarily poor performance this year was due to the Euro Zone crisis and anxieties brought about by the fact that this was an election year.
The former Propaganda Secretary of the NDC said the local currency had started appreciating in value as a result of the prudent measures put in place by the government.
But Mr Agyarko rejected the suggestion accusing Mr Kwetey of only doing propaganda.
He said it was curious that Mr Kwetey, who in 2008 discounted the impact of the global economic crisis on the Ghanaian economy at the time, will now seek to rely on the Euro Zone crisis to explain the continuing depreciation of the Ghana Cedi.
He said it was funny that the Deputy Finance Minister attributed the depreciation of the cedi in 2008 – which was an election year – to the incompetence of the Kufuor government whilst explaining that this year’s depreciation was attributable to the impending elections.
Mr Agyarko said instead of continuing to do propaganda and seek to obfuscate the issues for purposes of political chicanery and convenience, the NDC government must wake up the reality and apply enduring solutions to the problems militating against the stability of the local currency.
He said all Ghanaians must be worried about the trend because the local currency was the store of wealth and value Ghanaians had and that if the cedi consistently lost its value, it would mean a corresponding depreciation in the value of the assets of the citizenry which will not be as a result of their actions or inaction but due to the incompetence of their government.
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