Only individuals suffering from unconscious incompetence would blame depreciating cedi on NPP gov’t – Dr. Stephen Amoah

Deputy Finance Minister Dr. Stephen Amoah has responded to critics attributing the current cedi depreciation to President Akufo-Addo’s government.

During a media interaction on May 29, the Nhyiaeso MP emphasized that cedi depreciation has historically affected various governments and is not unique to the present administration.

As a former MASLOC boss, Dr. Amoah pointed out that the import-driven nature of the economy is a significant factor contributing to cedi depreciation.

He criticized those who attribute the issue solely to the current government, suggesting that this perspective shows a lack of awareness or intellectual dishonesty.

“Unless one is suffering from unconscious incompetence or displaying intellectual dishonesty that would say that cedi depreciation is NPP government” noting that the problem is a “ritual” one.

“It’s an issue that needs nationalistic attention. So far as we keep on being imported-driven economy, we’ll be having problems with cedi because we import almost everything.

“But Insha-Allah, Alhaji Mahamudu Bawumia, next year if he comes, we are going to design a long term framework to deal with the cedi,” he stated.

He referred to the problem as a recurring one, emphasizing the need for a comprehensive approach.

Dr. Amoah hinted at a long-term strategy under Dr. Bawumia’s potential presidency to address cedi depreciation.

He stressed the importance of a nationalistic approach and highlighted the dependency on imports as a core challenge.

He expressed optimism that under Alhaji Mahamudu Bawumia’s leadership, a strategic framework would be developed to tackle the issue effectively.