A video recirculating on the internet and social has fingered out the current Vice President and Flag bearer of the New Patriotic Party, Dr. Mahamudu Bawumia describing the exchange rate under the erstwhile Maham administration as “Medɔ Nyame” exchange rate.
The term is an Akan slang that is used to expressed swears or emphasis on an issue but in the case of the Vice President, then the running Mate to Nana Addo Dankwa Akufo-Addo, he used it to express disappointment in the manhandling of the economy by the NDC government in power at that time.
In the video, Dr. Mahamudu Bawumia stressed that, the Ghana Cedi was currently in what he described as “free fall”, thereby naming it the Medɔ Nyame exchange rate amidst cheers by people gathered there. He said the currency kept depreciating on a daily basis. The “Wale Wale” Adam smith as being affectionately referred to by his opponents, promised to catch and arrest the dollar if the NPP was given Mandate.
After eight years of the Akufo-Addo led government supported by Dr. Bawumia as head of Economic Management team, the Cedi has never gotten anywhere close to the Dollar, questioning his, arrest promise.
As it stands now, the cedi equivalence to the dollar has moved from GHC 3.00 to GHC 17.00 within the span of eight years under the leadership of the man who promised to arrest the dollar. It appears the dollar is rather arresting the man who made the statement.
Watch Video Here:
https://www.facebook.com/share/v/Pu34adh9Azzb11XP/?mibextid=UalRPS
