IMANI's Franklin Cudjoe Slams “Cheeky” Akufo-Addo’s Attempt To Get Public Commendation For Cedi Appreciation

• Franklin Cudjoe has said the president and his team of economists do not deserve credit for the cedi's appreciation
• According to the IMANI founding president, the managers of the economy have not taken any worthy decision that would warrant praise for the cedi's appreciation against the dollar
• In his view, the president was being cheeky in suggesting that he deserved commendation for the cedi's recent fortunes

Founding president of think tank IMANI Centre for Policy and Education Franklin Cudjoe has said it is unfair for president Nana Akufo-Addo to take credit for the cedi's recent appreciation against the dollar.

In a Facebook post, Franklin Cudjoe suggested that the president and his team of economic managers do not deserve any such praise.

He posted the following on Facebook on Monday, December 19, 2022:

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Mahama classifies Ghana as a bankrupt country following suspension of external debt payment

"1. Default in paying domestic debts by giving haircuts.

"2. Pump dollar reserves + cocoa $$ into the system to stabilise cedi.

"3. Default in paying external debts.

"And the President says we should clap for him? How cheeky!"

His post follows a recent comment by Nana Akufo-Addo that the recent gains made by the Ghanaian cedi are not by chance.

Nana Akufo-Addo stated that deliberate policy changes made by the administration over the previous few months were the cause of the current appreciation of the cedi against all major trade currencies.

The president suggested that his team of economists intentionally achieved the results for the cedi, in conjunction with the Bank of Ghana and that the appreciation of the cedi was not a fluke.

Former President Mahama Classifies Ghana As Bankrupt Following Suspension Of External Debt Payment

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Dr Ato Forson predicts that Fitch, S&P and Moody's expected to downgrade Ghana's rating to default

Meanwhile, YEN.com.gh has reported in a previous story that former President Mahama has classified Ghana as an officially bankrupt country.

This comes after the country suspended all debt service payments to its external creditors, including Eurobond holders.

The finance minister, who announced the move, said it is an interim emergency measure meant to save the country's economy.

NDC MP Predicts Fitch, S&P And Moody's Expected To Downgrade Ghana's Rating To Default

Also, Ranking Member of Parliament's Finance Committee made a telling disclosure about Ghana's economic outlook to YEN.com.gh.

Dr Cassiel Ato Forson says the country's dire financial situation will lead to further downgrades from all the major credit rating agencies.

This follows the announcement of the suspension of Ghana's external debt payments.

Source: YEN.com.gh