You Lack Common Sense And Wisdom – A Plus Fires BoG Governor Over Cedi Depreciation

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Failed musician and politician, A Plus born Kwame Asare Obeng has lambasted the governor of the Bank of Ghana (BoG), Ernest Kwamina Yedu Addison over the cedi depreciation.

According to the controversial Member of the New Patriotic Party(NPP), the governor of BoG has used ‘Rambo’ style to collapse local banks senselessly and he is partly to blame for depreciating cedi against the dollar.

He indicated that the governor of Bank Of Ghana lacks common sense and wisdom in dealing with the banking crises especially the current ‘sickening’ cedi depreciation.

He opined that the BoG governor has good records in collapsing local banks and savings and loans companies but can’t use the same energy to solve the cedi depreciation.

His attacks on the Bog Governor comes on the back of a tweet by a UK economist Charlie Robertson who labelled the Ghana cedi as the cheapest in Africa which have depreciated by 8.6 %(Percent) this year.

“#Ghana’s currency in the last few minutes has just become the cheapest in Africa – (at GHS5.745/$) – based on our real effective exchange rate model. Despite a current account covered by FDI and double-digit interest rates #cedi” His Tweet read.

A plus reacting to the tweet lambasted the governor of BoG and questioned his competence in dealing with the current bank crisis.

He blamed the governor of the Central Bank for the current cedi depreciation as some of his decisions and action caused it.

He said that the governor of Ghana lacks common sense and wisdom in dealing with the current bank crisis.

The controversial musician, comedian and politician took to his Facebook page to share the tweet of UK economist Charlie Robertson and with caption:

 “This is what happens when you have a governor of Bank of Ghana, who collapses banks in Rambo style, promises that depositors’ monies are safe, employees are safe, however cannot pay depositors their money, sacks employees anyhow. As if that is not enough, causes more panic by announcing on radio and TV that, though he cannot pay depositors after closing down banks, his next target is savings and loans and triggers panic withdrawals at savings and loans…” 

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