Dissolve your economic management team – Minority in Akufo-Addo
The minority in parliament has called on President Akufo-Addo to immediately disband his economic management team over the wobbly cedi.
According to the minority, the rise in fuel prices in the country is the result of the depreciation of the local currency rather than the rise in crude prices on the international market.
Speaking to the media, Minority Mining and Energy Spokesperson John Jinapor called on the government to use the oil export windfall to protect Ghanaian consumers.
“This government has been a monumental failure. We call on President Akufo-Addo to disband the economic management team as it has failed to meet expectations,” Mr Jinapor told media on Friday.
He further explained, “This morning the exchange rate – the dollar to the cedi is trading at 8.5 Ghanaian cedi. The Ghana cedi is now the worst performer with other major currencies. The price of diesel at the pump is over 40 cedis per gallon. This is the true state of the Ghanaian economy today. Workers, teachers, drivers, MPs and market women are really suffering.
“Indeed, you wake up today and you don’t even know how you are going to make ends meet. And instead of seeing this government sit down and think outside the box, all we hear is that it does not control world market prices. The gasoline we buy today is due to the depreciation of the cedi. We control the cedi here. The EMT under Dr Bawumia has failed miserably, indeed they are out of ideas,” the ranking member added.
Mr. Jinapor also called on the government to use part of the reserves from the energy sector levies, especially the price stabilization levy, to protect Ghanaians in order to drive down oil prices.