Cedi Fall: Barker-Vormawor Of FixTheCountry Jabs Professor Hanke Over Currency Board Suggestion

• Oliver Barker-Vormawor thinks US-based economics professor, Steve Hanke, may not know how Ghana works
• According to him Prof Hanke's suggestion for a setting up a currency board to save the cedi is a bad a idea
• He suggests that government may pack puppets to the board and make its job ineffective

FixTheCountry Convener, Oliver Barker-Vormawor, has slammed popular US-based economist, Professor Steve Hanke, for repeatedly recommending a currency board to save Ghana’s cedi.

Mr Barker-Vormawor, an outspoken social change campaigner, mocked Prof Hanke for being a “silly White man” because his suggestion could worsen the situation.

The FixTheCountry convener suggests that the currency board would be packed with government puppets, rendering it ineffective.

“Prof Steve Hanke keeps talking of a currency board as if it’s the solution to our currency and inflation problems.

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“Hahaha. Silly white man. Does he know the people we will put on the Board?

“Abeg. Sit somewhere. Don’t come and create more jobs for hungry men. Shalom,” Oliver Barker-Vormawor posted on Facebook.

The comment by the Cambridge-Africa PhD law student follows consistent calls by Prof Hanke for Ghana to temporarily retire the central bank, the Bank of Ghana, for a currency board to save the troubled cedi.

Prof Hanke’s latest post on the matter read as follows:

“Since Jan 1, 2020, the Ghana’s #cedi has depreciated by a stunning 42.3% against the USD. Now, Ghanaians are shutting businesses down in protest. When will Pres. Akufo-Addo learn? Ghana MUST mothball its central bank & install a currency board!”

Currency Board: How It Operates And Why Professor Hanke Thinks It's Ghana's Only Way Out To Save The Cedi

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YEN.com.gh reported previously that for some time now, the US-based economist has been nudging Ghana to consider mothballing the Bank of Ghana's Monetary Policy Committee (MPC) decisions to control inflation and set up a currency board.

YEN.com.gh has broken down how a currency board operates and if it is Ghana's answer to rising inflation and depreciating cedi.

The Professor of Applied Economics at the John Hopkins University in Baltimore, United States has been grabbing headlines in Ghana for his blunt but brief analysis of Ghana's economic challenges.

Source: YEN.com.gh