Cedi’s appreciation: NDC’s Sammy Gyamfi says coronavirus is responsible

Cedi’s appreciation: NDC’s Sammy Gyamfi says coronavirus is responsible

- Sammy Gyamfi has revealed that the cedi is currently doing well because of the outbreak of Coronavirus

- He said the currency is doing well on the world market because businesspeople are currently not importing goods and that has taken pressure from the cedi

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The Communications Director of the National Democratic Congress, Sammy Gyamfi has revealed that the cedi is currently doing well because of the outbreak of Coronavirus.

Sammy Gyamfi said the currency is doing well on the world market because businesspeople are currently not importing goods and that has taken pressure from the cedi.

According to MyNewsGh.com report, the government has not made a single intervention.

READ ALSO: Akufo-Addo reveals VW and Toyota would soon start assembling cars in Ghana

“The reason why we are seeing some stability is not because of any economic intervention put in place by this government, 37% of our imports comes from Asia and I’m telling you that there no single economic intervention that is bringing about this stability," he said.

Gyamfi noted that Ghana is not the only country exposed to China when it comes to trade. But Ghana's level of exposure is the biggest.

He mentioned that this is not the first time the country is seeing a temporary, cosmetic so-called stability.

READ ALSO: Olatoye Babatunde: Meet the African student who has volunteered to fight the coronavirus in China

YEN.com.gh has learned that African students studying in China have called out to their governments to help them.

This call comes in the wake of the spread of the coronavirus which has infected over 70,000 people and claimed over 2000 lives in the country.

Several governments, since the outbreak of the virus, have taken steps to evacuate their citizens from the country.

Per a report by cfr.org, China remains Africa’s most important trading partner and its governments of the continent are concerned about the spread of the virus to the continent.

READ ALSO: Coronavirus: About 5000 African students call on their gov’ts to save them as 2000 people die in China

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Source: Yen

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