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Tue, 16 Apr 2024 Politics

Bawumia will use Ghana’s gold to stabilize the Cedi if voted as President — Ahiagbah

Richard Ahiagbah, National Communications Director of the NPPRichard Ahiagbah, National Communications Director of the NPP
16 APR 2024 LISTEN

The National Communications Director of the ruling New Patriotic Party (NPP), Richard Ahiagbah has revealed Vice President Dr. Mahamudu Bawumia's plan to stabilize the Ghana cedi if elected President in 2024.

The NPP flagbearer intends to leverage the country's gold resources to stabilise the value of the Cedi against the dollar, according to Mr. Ahiagbah.

He believes shoring up the cedi with Ghana's gold reserves will insulate it from external shocks and speculative attacks that often cause the currency to depreciate sharply.

"Be Bold with Bawumia. He will use our gold to back the cedi to make it stable. This is a Bold solution to stabilize the cedi. Depreciation will be a thing of the past because the cedi will be sufficiently stable under Bawumia,” he wrote via X on Tuesday, April 16.

In view of this, the NPP spokesperson urged Ghanaians to pledge their support and vote for Dr. Bawumia in the upcoming polls.

Latest figures from CediRates.com show the cedi is trading at GHS13.53 to $1 on the retail market on Tuesday, April 16, 2024.

Isaac Donkor Distinguished
Isaac Donkor Distinguished

News ReporterPage: IsaacDonkorDistinguished

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