Last year was an unforgettable year for our currency, because we saw it lose value against its major trading currencies.
Unfortunately, before that happened, many people saw the warning signs and predicted that the cedi was going to depreciate at an alarming rate. It was shrouded in politics, so nobody gave any heed to the advice and admonitions.
Already some industry watchers and players, have started raising the red flags.
The Finance Minister, Seth Terkper, is a lucky man, because the President John Dramani Mahama, who appointed him has publicly affirm his trust and confidence in him, this is even against the available evidence and calls by people within the National Democratic Congress (NDC) that he should be relief of his duty.
The President, has a mandate of the people based on the promises he made, he believes that Seth Terkper is the best person for the job, so we will give him the benefit of the doubt.
The Finance Minister, however, must be reminded that the Cedi, has started losing value against its major trading currencies, should this trend continue like it did last year, what it means is that prices of goods and services, will start shooting up and it is not a good omen for the government.
The President and Ghanaians, are still grappling with the power crisis, which has plunged the country into darkness, collapsing businesses, which is leading to people lossing their jobs.
President Mahama is working very hard to ensure that the cycle of Dumsor does not rear its ugly head again in the near future. Seth Terkper, must help the president and Ghanaians by keeping his eyes on the Cedi. We cannot afford, it will be unbearable to combine the effect of a weak currency and the load-shedding.
He has enjoyed a certain level of respite, despite the fact that the inability of government to raise enough money to buy petrol or gas to power our thermal plants is the job of the Finance Minister.
Whatever magic wand that he wielded that saw the reversal of the decline of the Cedi last year, he should do it again, before things get out of hand.
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