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14.08.2014 NPP

Sack Wampah and save the cedi - NPP MP to Mahama

By MyJoyOnline
Sack Wampah and save the cedi - NPP MP to Mahama
14.08.2014 LISTEN

New Patriotic Party (NPP) Member of Parliament for Bibiani- Ahnwiaso-Bekwai, Kingsley Aboagye Gyedu has also joined calls for the sacking of the Governor of the Bank of Ghana, Dr. Henry Kofi Wampah “for failing to halt the depreciation of the cedi”.

He believes it is about time President John Mahama takes a bold decision by appointing a competent person to help solve the current economic challenges in the country.

“President Mahama must sack Dr. Wampah and save the cedi if he means well for the economy; I think he [Wampah] is tired and needs rest” he stressed.

The Governor of the Central Bank has incurred the wrath of many after his forex measures to stop the cedi depreciation against major trading currencies backfired.

According to economic pundits, the measures rather exacerbated the situation which they claim had dire consequences on businesses in the country.

Based on this, many including the Managing Editor of the New Crusading Guide newspaper, Abdul Malik Kwaku Baako have launched a campaign to get Dr. Wampah out.

In support, Kingsley Aboagye Gyedu on Asempa FM's Ekosii Sen programme Thursday said Dr. Wampah has proven beyond reasonable doubt that he cannot ensure the effective implementation of monetary policies to save the cedi from falling.

He noted that all the monetary interventions by the Governor are not working because there is no "better research underpinning" them.

“I think Dr. Wampah is sleeping on the job; in less than six month the cedi has depreciated almost 40 percent. This is an embarrassment”, the Bibiani- Ahnwiaso-Bekwai MP stressed.

Kingsley Aboagye Gyedu insists Dr. Wampah has shown gross incompetence in the handling of the monetary policy thus “must take a bow". Story by Ghana/Adomonline.com/Adwoa Gyasiwaa

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