Withdrawal From IMF Caused Recent Cedi Depreciation – Former Bantama MP

Former Member of Parliament [MP] for Bantama constituency, Henry Kwabena Kokofu has said the recent cedi depreciation against the US dollar and other foreign currencies was as a result of the country’s withdrawal from the IMF programme.

According to him, the country’s withdrawal from the IMF programme brought up the current shake-up in the cedi against the dollar, but the government of the day is doing its best to make the cedi regain its strength.

“Our withdrawal from the IMF programme caused the recent cedi depreciation and not that the current board responsible for the management of the economy failed,” he said.

Speaking on Peace FM’s ‘kokrokoo’ panel discussion, Henry Kokofu cautioned members of the NDC to stop making comments about the cedi depreciation because they were the immediate government who left the country in the state in which it is now.

Kwabena Kokofu added that Ghana has since 2015 when it was approved to be member of the IMF suffered in fixing its economy.