The Executive Vice President of the Center for Policy and Foreign Engagement, Eke Agbai, PhD, has criticized the NPP minority in parliament for their claims that the government is “ponping in” money to stabilize the local currency.
Agbai stated that the NPP minority’s claims show they don’t understand how currency stabilization works. “It’s the appreciation of microeconomic indicators and increase in foreign reserves that help stabilize the currency, not just pumping in money,” he said.
In an interview with Emmanuel Asiedu Agyare (Onokwafo Yaw Asiedu) of Ahotor FM, Agbai explained that when confidence is placed in a currency, it increases foreign reserves, which in turn helps stabilize the cedi.
He challenged the NPP minority to explain why they didn’t stabilize the currency during their time in office if “ponping in” money was the solution.
He urged the NPP minority to engage in constructive debate rather than “destruction of facts”. He emphasized that their approach will not yield positive results and called for a more informed and responsible opposition.
Here is the voice
Story by: Emmanuel Asiedu Agyare (Onokwafo Yaw Asiedu)/ Ahotoronline.com I Ghana