Incompetence caused cedi struggles under Mahama but struggling now due to external shocks- Kokofu

Former Executive Director for the Environmental Protection Agency (EPA), Dr Henry Kwabena Kokofu has intimated that the faced internal weak fundamentals under John Dramani Mahama’s administration.

However, under the current dispensation, Ghana’s currency is facing external shocks hence the struggles.

He made this known while speaking on Accra-based United Television.

“The cedi was one cedi to cedi before it was taken to another level. The dollar’s issue is an international problem and even now, the Russians are trying to ensure that their currency is now International, China wants the same.

So if America wants the whole world to listen to them, they just make their currency inaccessible and raise the value and that makes them a super power.

You people always say Dr Bawumia said when the fundamentals are weak the exchange rate will expose you. It was true when he said it and it is true today. When he was saying it, the fundamentals were weak within, the government did not do things right.

Today, we are talking about external fundamentals. During the NDC’s time, the external fundamentals were minimal and he was incompetent. It was out of incompetence that things were bad for Mahama’s government.

Externally, the UK is crying, Europe is crying. America’s debt is a lot and so when they want to do their things right, then they raise the value of the dollar,” he said.

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