Former National Vice Chairman of the New Patriotic Party (NPP), Michael Omari Wadie, has stated that the significant depreciation of the cedi in 2021 and 2022 was a major factor in President Nana Akufo-Addo’s decision to seek financial help from the International Monetary Fund (IMF).
One of the main reasons President Nana Akufo-Addo sought financial support from the International Monetary Fund (IMF) was the severe devaluation of the cedi in 2021 and 2022, according to Michael Omari Wadie, a former national vice chairman of the New Patriotic Party (NPP).
In an interview with GHOne TV, Omari Wadie described how the cedi’s sharp fall impacted livelihoods and companies, ultimately influencing the political environment.
“The problem started in 2021/2022 when the dollar was around 6 cedis, and within three months, it went to 12 cedis, and it affected everybody. That is what forced him (Akufo-Addo) to go to the IMF,” he stated.
In addition to the economic problems, Omari Wadie pointed out that a significant problem in the most recent election was voter indifference, since many NPP supporters declined to cast ballots.
“Most NPP voters did not go to vote. They didn’t like John Mahama but were not happy about what was happening, especially after 2021,” he noted.
Source: Mybrytfmonline.com/Joseph Asare
