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The Managing Editor of the Insight newspaper, Kwesi Pratt Jnr has said Vice President, Dr. Mahamudu Bawumia explaining the cause of the fall of the local currency will not put food on the table of Ghanaians.
His comments follow assertions by business economist and investment consultant, Kwame Pianim, who said Bawumia’s observations on the cedi had no bearing on the pockets of Ghanaians.
He said it is meaningless to just bandy about economic figures if it does not translate into something tangible for Ghanaians.
“I am not going to contradict the Vice President. All that I am saying is that people don’t eat words. They see the exchange rate reflect in their cost of living because prices will go up. Let’s stop talking and focus on addressing the fundamentals. The fundamentals are supply and demand for foreign exchange,” he said on Accra-based Citi FM.
This follows a town hall meeting on Wednesday, led by the Economic Management team of the New Patriotic Party (NPP), chaired by Dr. Bawumia.
Addressing Ghanaians on the state of the economy, Bawumia insisted that the current economic fundamentals of the country are strong contrary to the National Democratic Congress’ logic that the recent cedi fall must be due to weak economic fundamentals.
“If the fundamentals are weak, the exchange rate will expose you, but if the exchange rate moves you cannot jump into that conclusion that the fundamentals are weak, that defies logic,” he said.
Adding his voice to the debate on Accra-based Peace FM’s morning show ‘Kokrokoo’, Kwesi Pratt said the figures churned out by the government will not be meaningful if it has no effect on people’s livelihood.
Watch the video below: