Former president John Mahama has nothing to offer as far as the Cedi depreciation is concerned, a deputy Railways Development Minister, Andy Appiah Kubi has said.
Mahama in a Facebook post entreated the Akufo-Addo administration to reach out to stakeholders for help in order to halt the Cedi’s depreciation.

However, the Asante Akim North legislator believes ex-president Mahama has no clue to the resuscitation of the Cedi as his administration faced worse times in sustaining the local currency against major ones.

“Ex-president Mahama should be the last person to even talk about the Cedi’s depreciation. During his era, the Cedi depreciated by over 40% and he had absolutely no clue in addressing it.

“If he had any help to offer, it was back then that he could proffer them but he watched on helplessly as the Cedi fell to a record low,” the astute lawyer added.

Recalling his administration’s three-day Senchi Economic Forum in 2014, which the now-governing New Patriotic Party boycotted, Mahama said the current government was “probably at such a decision point.”

The Cedi has depreciated against the dollar from GHc 4.9 to over GHc 5.5 since the turn of the year.

But the Deputy Railways Development Minister believes the measures being put in place by the current administration will strengthen the Cedi in the coming weeks.

He said the government’s fresh injection of capitals such as the $750 million Standard Bank bridge facility and the launch of the $3 billion Eurobond coupled with some funds to be made available by COCOBOD will go a long way to curtail the challenges the Cedi is currently facing.