Albert Nat Hyde commonly known as Bongo Ideas have reacted to the Ghanaian cedi further appreaciting to the dollar.
According to Bongo Ideas, the finance minister Dr Cassiel Ato Forson is doing what the avowed Economist, Bawumia could never do!
His comment comes as the 1 US dollar is now 11.90 cedis.
In a post on X Bongo Ideas noted, “Ato Forson took the dollar from 17 to 15 in two months. Took it from 15 to 13 in 1 month and then took it from 13 to 11 in 3 weeks. Projected to hit 9 in 2 weeks. This is what the avowed Economist, Bawumia could never do!
Prices dropping! Aban Papa Aba!”, he stated.
Meanwhile, Dr Mahamudu Bawumia the former vice president has stated the US dollar is on a decline globally.
According to Dr Bawumia, Zambia’s currency the Kwacha has also gained ground because the US dollar is declining in value.
The former NPP presidential candidate for the 2024 election rejected ideas that the NDC deserves any credit for the recent gains of the cedi.
Speaking during an interaction with the Young Executive Forum (YEF) in London, Dr Bawumia detailed, “The US dollar itself is on the decline globally, and that has also strengthened. If you go to Zambia, for example, the Kwacha has gained a lot of ground also because you have the US dollar declining in value.”
“They are not spending. If you are managing an economy, you have to pay your bills. They are not paying IPPs, for example. This is why the dumsor is so acute, and they are not paying contractors. When you are not spending, there is less pressure on your currency.”
According to Dr Bawumia, the Mahama-led NDC government has not implemented a policy that could have contributed to the currency’s performance.
He added, “If you are to ask the NDC to point out exactly what policy they have implemented that has resulted in the appreciation of the cedi.
They cannot tell you one that has been implemented, not sort of talked about but actually implemented. They cannot tell you one such policy. They only passed their budget in March. They’ve not even issued any contracts and paid for anything, pretty much.
So you cannot ascribe what is happening to the currency to a policy that they have implemented. There’s no such policy that has been implemented that has had that impact yet,” he said.
However, Dr Cassiel Ato Forson the finance minister has boldly revealed that the activities of the Goldbod will further strengthen the Cedi’s performance.
See the post below:
Ato Forson took the dollar from 17 to 15 in two months. Took it from 15 to 13 in 1 month and then took it from 13 to 11 in 3 weeks. Projected to hit 9 in 2 weeks. This is what the avowed Economist, Bawumia could never do!
Prices dropping! Aban Papa Aba! pic.twitter.com/hSnLFbIsHl
— Albert Nat HYDE (@1BongoIdeas) May 21, 2025
