Deputy Finance Minister, Charles Adu Boahen has called that demands of the Minority in Parliament  demanding for the government to draw a new budget to salvage the economy a premature act.

According to the the Deputy Minister, the issues of the depreciation of the cedi is being resolved and most of the losses have been regained.

He said while speaking on Accra based radio station Citi FM earlier today “Already we’ve seen in the last week a recovery of the currency by over ten percent so most of the losses have been regained. And I believe that my Minister was being a prophet when he prophesized that in two weeks the currency will be back to normal. And we have already started seeing the recovery”.

Mr Boahen added that the government is aware of the challenges that caused the depreciation of the cedi and is working tirelessly to resolve it.

He said, “We know why the currency was under pressure and we know how to get it back. It was under pressure because one of the key intervention tools the Bank of Ghana had at its disposal was sort of restrained…That has now been resolved. The bond happened yesterday, we’ve raised a sizable bond offering and all the speculators are selling off their dollars. The question here is has the fundamentals change? The answer is that the fundamentals are very strong. We haven’t had a stronger economy than what we see today in a long time”.

Meanwhile the Minority on Wednesday called for a new budget to save the economy from current vulnerabilities triggered by the depreciation of the cedi.

The Minority Spokesperson on Finance, Cassiel Ato Forson argued that “the rapid decline in the value of the cedi has thrown the economy in disarray and the projections surrounding it as contained in 2019 budget.”He insisted that the current situation has undermined the confidence in the economy and is also “sending wrong signals to the investor community.”

“This calls for urgent steps to be taken by government to restore the economy. The starting point is that we should be considering a new budget which considers all the distortions and serious problems occasioned by the fall of the value of the cedi” he added.