The US Dollar arrests Bawumia and leaves him with nothing but the urgent need for a committee to brainstorm the reasons why the cedi cannot be on its weak limbs for a few days with the passing shadow of the dollar insight.
Before the 2016 general elections, theconfidence with which the then vice-presidential hopeful Dr. Bawumianow vice president spoke with clarity about the ability ofGhana’scedito withstand thehigh flyingdollar was infectious and convincing to hear.
His laterannouncement after winning power that, he has arrested the dollar was even more heartwarming to hear. Alas, today, the reality is that the dollar was never arrested nor was the key to its cells handed over to the IGP.
The Dollar probably escaped arrest,outweighedour economic experts and team, dodged Dr.Bawumia’s antics and arrested him rather.
Having succeeded in trapping Ghana’s economy, the free fall of the cedi as against the dollar has now compelled one of Ghana’s economic gurus and vice president of Ghana to seek the help of a committee to investigate why the dollar is causing pain and anguishto the economy of Ghana.
Thegovernmentknowsthe reality ofthe dangers of thecontinuousfall of thecediwhich has depreciated about 46% since 2017. TheNDC’sOkudzatoAblakwahasreiterated that Ghana needs a newgovernmentand not acommitteeto investigate thecontinuousfall of theCedi.
The MP in a tweet said: “It has become as clear as crystal that we do not need a 40-member committee to rescue theCedi; we need an entirely new Government to rescue the nation.”
Sad to say that Vice President Dr. Bawumiacouldn’t arrest thecediwith his 170 questions after all?
Giving an account of the first 100 days in office, Dr.Bawumiasaid they had been able to ‘arrest’ the fall of thecedias well as made some 103 achievements. Whilst delivering a 40-minute presentation at a town hall meeting in 2017, Dr.Bawumiasaid the free fall of thecedihad been arrestedand the keys given to the Inspector General of Police (IGP) for safekeeping.
Today, Ghana’scedihas become miserable with thegovernmentnow consulting and seeking help.
Ghanaians wonder why the need for acommitteeon this matter. The vice president has been loud with comments like “When thefundamentalsare wrong the dollar will expose you” He But today, Ghanaians are teasing him andbelievethe Dollar has finally arrested him, trapped Ghana and humbled the vice president’s economics at least for now.
Can we ever arrest the dollar? Can we tame the free fall of thecedi?Probably the fundamentals are still wrong Dr. Bawumia?