Kennedy Agyapong, a candidate for the presidential nomination of the New Patriotic Party (NPP), has criticised the government for its ineffective management of the national currency.
He indicated that he had the Cedi equivalent of $40 million in March 2022, but by August of that same year, the value had decreased to $16 million due to the depreciation of the Cedi. He said this happened because of the exchange rate.
Although he did not specify any names, it is generally accepted that Vice President Dr. Mahamudu Bawumia, who is also the head of the economic management team and an aspiring flagbearer of the NPP, is to blame for the poor performance of the Cedi in comparison to the major trading currencies, particularly the Dollar.
Ken Agyapong Tears Bawumia Apart
Mr. Ken Agyapong, who is also a member for the district of Assin North, is running for the position of flagbearer of the party, and he has stated as part of his campaign that “we will have troubles if we do not do a clean campaign because I will reply to every claim made against me.”
“You call yourself a strategist, yet during the time when we were seizing power, one dollar was for four cedis. Today, one dollar is worth twelve cedis, and still you call yourself a strategist.
“I had 40 million Dollars in Cedi equivalent in March 2022, but by August 2022, the value of those 40 million Dollars had dropped to 16 million,” he said.