A governance lecturer at the Central University, Dr Benjamin Otchere-Ankrah, has registered his displeasure about the steep cedi depreciation against the major foreign currencies.
Currently, the dollar value has reached 10 cedis and adversely impacting the Ghanaian market and economy.
Although the central bank has assured the citizens it would resolve the depreciation, the cedi keeps not doing well.
Contributing to Peace FM’s political programme “Kokrokoo”, Dr Otchere-Ankrah noted that the cedi is failing because of the way transactions go on in the nation.
He noted that there is no way the dollar won’t go higher when Ghana is a free economy for the dollar trade.
“Why do we have schools in Ghana which charge school fees in dollars and parents pay dollars whereas our official currency is cedi? We have hotels in this country that charge in dollars. Oh, how?… Why are we in Ghana and spending dollars?” he asked.
He also took a jab at the Finance Minister saying “any person can sell dollar on the street. When you go to the bank and wants dollar, they say they don’t have it but a bank manager can show you where to get dollar”.
“Are we serious? Are we serious as a country? So, Finance Minister, must you hold PHD in Economics or Finance before you know this?” he exclaimed.
Dr Otchere-Ankrah further ridiculed the Akufo-Addo administration saying “you talk about breaking the eight but now we are breaking the 10. The dollar is over-speeding”.