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, the confidence with which the then vice-presidential hopeful Dr. Bawumia now vice president spoke with clarity about the ability of Ghana’s cedi to withstand the high flying dollar was infectious and convincing to hear.
His later announcement 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, outweighed our 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 anguish to the economy of Ghana.
The government knows the reality of the dangers of the continuous fall of the cedi which has depreciated about 46% since 2017. The NDC’s Okudzato Ablakwa has reiterated that Ghana needs a new government and not a committee to investigate the continuous fall of the Cedi.
The MP in a tweet said: “It has become as clear as crystal that we do not need a 40-member committee to rescue the Cedi; we need an entirely new Government to rescue the nation.”
Sad to say that Vice President Dr. Bawumia couldn’t arrest the cedi with his 170 questions after all?
Giving an account of the first 100 days in office, Dr. Bawumia said they had been able to ‘arrest’ the fall of the cedi as well as made some 103 achievements. Whilst delivering a 40-minute presentation at a town hall meeting in 2017, Dr. Bawumia said the free fall of the cedi had been arrested and the keys given to the Inspector General of Police (IGP) for safekeeping.
Today, Ghana’s cedi has become miserable with the government now consulting and seeking help.
Ghanaians wonder why the need for a committee on this matter. The vice president has been loud with comments like “When the fundamentals are wrong the dollar will expose you” He But today, Ghanaians are teasing him and believe the 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 the cedi? Probably the fundamentals are still wrong Dr. Bawumia?