Skip to main content

A Letter to Dr. Bawumia: We need update on the economy, Covid-19


It has become necessary for me to write to you Sir, the economic messiah of our time and the head of the economic management team of our Republic Ghana, to update the country over the economic hardship and the daily cedi to dollar depreciation. Few weeks ago, the government led us to the International Monetary Fund (IMF) and told Ghanaians that after IMF encounter things will fall in place but rather things are worsening day by day, which I find it very strange in this country and my reason for knocking on your door today to update the entire nation.

Again, I want to ask if Ghanaians do not deserve to be updated on the economic situation in the country as things are falling apart? Maybe you could take cue from President Nana Addo Dankwa Akufo-Addo when he updated Ghanaians weekly during the Covid-19 era.

When Ghanaians were complaining of hardship few months ago, government spokepersons came out to rant as if we do not know what we were feeling at that time. In fact, where is the economic messiah of our country, and the best finance minister, where are they?.

I think it is time Ghanaians woke up to this government and demanded an update on the economy because Nana Addo Dankwa Akufo-Addo, the President of the land, once told us that they know how to bring back the economy but not human life during his "fellow Ghanaians" update. Ghanaians deserve better so please we need an update in fact serious update on the economy, cedi depreciation and many more.

I went to the bank and the dollar was 11 cedis 50 pesewas in the morning around 10am when I return to the same bank it was 12 cedis 40 pesewas. And around 12pm, the dollar was 12 cedis 90 pesewas and around 3pm it has jumped to 14 cedis. This is not what we were promised and this is one of the reasons we need Dr. Bawumia to come out and update us on this problem.

My humble question is: is it bad economic management or the government missed the fundamentals that allowed the cedi to expose the managers of our economy?

We need Dr. Alhaji Mahamudu Bawumia to come out and tell us what is happening in Ghana.

God bless our homeland Ghana and make us great and strong.

Yours Faithfully
Amanfour Wofa

Comments

Popular posts from this blog

Fitch Solutions retains 2025 growth rate projection at 4.2%

 Fitch Solutions has reaffirmed its projection that Ghana’s economy will expand by 4.2% in 2025. This estimate slightly exceeds the International Monetary Fund’s forecast of 4% and the World Bank’s projection of 3.9%. The UK-based research firm attributes its outlook to historically high gold prices, which are expected to cushion the Ghanaian economy against a global slowdown triggered by rising tariffs. Higher gold prices are anticipated to strengthen government revenue, enhance foreign exchange earnings, and help sustain currency stability. The report also highlights that Ghana is relatively less vulnerable to increasing trade restrictions from the United States, given that its primary exports—gold and crude oil—are not directly affected by the tariffs introduced by President Trump’s administration. Moreover, the US constitutes only about 4% to 5% of Ghana’s total exports. In contrast, Ghana’s trade relations are more heavily oriented toward China and European countries, particul...

BoG injects $20m into FX market to support 11 BDCs

  The Bank of Ghana (BoG) has injected $20 million into the foreign exchange market in the latest round of its forward FX auction targeted at Bulk Oil Distribution Companies (BDCs). The intervention, which benefited eleven BDCs, is part of the central bank’s broader strategy to stabilise the cedi and ensure price stability in the petroleum downstream sector. Held on Tuesday, April 29, the auction was priced at a locked exchange rate of GHS 14.28 to the US dollar, with bid offers ranging from GHS 13.85 to GHS 15.55. This move reflects the BoG’s continued effort to deepen forex liquidity and safeguard the domestic fuel supply chain against volatility in global energy markets. By directly supplying FX to BDCs, the central bank seeks to ease pressure on the interbank market, guarantee the uninterrupted flow of petroleum products, and mitigate the pass-through effects of exchange rate fluctuations on fuel prices. The $20 million disbursement forms part of a $120 million programme for th...

Kenpong Travel & Tours Champions Breast Cancer Awareness During Customer Week

  As part of activities to mark Customer Week, Kenpong Travel & Tours, a leading travel agency in Ghana, is joining the global fight against breast cancer. October is Breast Cancer Awareness Month, and the company is passionate about spreading hope and support to those affected. At Kenpong Travel & Tours, we believe that travel and exploration can be therapeutic and empowering. That's why we're committed to supporting our customers and the broader community in the fight against breast cancer. We're proud to stand in solidarity with breast cancer warriors and survivors. At Kenpong Travel & Tours, we believe that everyone deserves a chance to explore the world and create unforgettable memories. Let's prioritize health, support one another, and fight against breast cancer," said Kennedy Agyapong, CEO of Kenpong Travel & Tours. Our efforts are focused on raising awareness, promoting early detection, and supporting those affected by breast cancer. We urg...