Senior economist at UG supports Sammy Gyamfi's claim over cedi rise
Business & Economy section is brought to you by Jiji.gh — #1 Ghanaian online marketplace
Visit website

Senior economist at UG supports Sammy Gyamfi's claim over cedi rise

- An economist at the University of Ghana Business School, has supported claims made by NDC's communication director that the Coronavirus is a contributing factor for the recent stability of the cedi

- He said he won’t be surprised that the coronavirus could have that positive impact on our currency

Our manifesto: This is what YEN.com.gh believes in

An economist at the University of Ghana Business School, Dr Lord Mensah, has supported claims made by NDC's communication director that the Coronavirus is contributing to the recent stability of the cedi.

According to Dr Mensah, Ghana's inability to transact business in China as a result of the situation in there has an impact on how dollars are changed.

Speaking on the Morning Starr, on Accra-based radio station Starr FM, he said he would not rule the claim made by Sammy Gyamfi that the outbreak of Coronavirus has contributed to the stability of the cedi.

READ ALSO: Beautiful photos from Akwasi Agyeman’s funeral surface online

For Ghana, a chunk of our trade is with China and because of the virus, people may not be changing dollars.
I won’t be surprised that it (coronavirus) could have that positive impact on our currency," he said.

Sammy Gyamfi is on record to have argued that Ghana’s level of imports from China makes it impossible not to be impacted by the dire situation there.

“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.

READ ALSO: I want to debate Bawumia ‘face-to-face’ - NDC MP Adongo

In other news, Vice President Dr. Mahamudu Bawumia has been challenged to a public debate on Ghana’s economy.

The challenge is coming from a leading member of the opposition National Democratic Congress, MP for Bolgatanga Central, Isaac Adongo.

The NDC MP says a face-to-face debate with the vice president on the country’s economy will also afford Ghanaians the opportunity to interact and assess figures put out by the two.

READ ALSO: NPP primaries: 5 incumbent MPs in the Eastern Region go unopposed

Ghana News Today: Accra Beautification Project causes Ako-Adjei Interchange to sparkle | #Yencomgh

Subscribe to watch new videos

Want to be featured on YEN.com.gh? Send us a message on our Facebook page with your stories, photos or videos

Source: Yen

Mailfire view pixel