Reason For Cedi Appreciation: Samira no longer buy her cosmetics in dollars – NDC’s Gibril
Mahdi Gibril, the Deputy Director of Elections for the National Democratic Congress (NDC), has shed light on why the Ghanaian cedi has been gaining strength against the US dollar and other major international currencies.
According to him, one of the key reasons the cedi had been losing value previously was due to the actions of some selfish individuals who were hoarding dollars, which worsened the depreciation. However, he believes the current administration, led by President John Dramani Mahama, has taken steps to turn things around.
Mahdi Gibril said the leadership of President Mahama has brought some stability to the local currency and is working hard to pull Ghana’s economy out of the difficult situation it was left in by the previous administration.
He criticised the New Patriotic Party (NPP) for trying to downplay the work being done by the Mahama-led government and also for attempting to take credit for the recent strengthening of the cedi.
He stated: “The ruling government has implemented strong economic policies and measures aimed at stabilising the cedi. This isn’t a nine-day miracle. We maintain fiscal discipline and avoid spending recklessly. This is exactly what a serious government does. A responsible government spends wisely and keeps its promises.”
Mahdi Gibril also took a swipe at the former Vice President, Dr. Mahamudu Bawumia, labelling him a failed economist. He noted that Dr. Bawumia was once praised as an economic genius, but in reality, he was unable to maintain a stable economy during his time in office.
He further said that Samira Bawumia, wife of the former Vice President, also promoted her husband as a capable leader, but that image has since fallen apart.
According to Mahdi Gibril, Samira’s silence in recent times is telling, and it reflects her loss of certain benefits she used to enjoy while in power.
He claimed: “Samira Bawumia has gone quiet because she no longer has dollars to buy her cosmetics, which has significantly contributed to the dollar’s depreciation.” She no longer has enough money to purchase all of her previous items. Let no one deceive you. The cedi appreciation is solely due to the work we have done.”
In conclusion, Mahdi Gibril stated that people who once argued the cedi’s recent performance was temporary are now changing their tune. He said these critics are making new claims that suggest the cedi should not be allowed to gain too much strength — a position he finds unconvincing and contradictory.