The falling Cedi is short term challenge; I’ll fix it soon – Prez. Mahama

• Posted on February 14, 2014
• by Nana Kwesi Coomson
• Comment

President John Dramani Mahama who is suffering the kitchen heat for the depreciation of the Ghana Cedi has via Facebook encouraged Ghanaians that he is still in the process of fixing it. In his lengthy status, The President uplifted Ghanaians with the following words;

“Regarding the depreciation of the Ghana Cedi, I want you all to know two major things. First: this is not caused by our national decisions. We are part of the global financial system and so we share both its ups and downs.
“Since the beginning of this year, several countries, with stronger economies than ours, have seen their currencies depreciating due to the moves of international players on the stock market. In January, for instance, Argentina’s peso fell more than 20%, Turkish lira lost 6%, the South African rand fell 7% and so did the Russian ruble. In January, for instance, Argentina’s peso fell more than 20%, Turkish lira lost 6%, the South African rand fell 7% and so did the Russian ruble,” he wrote on his Facebook wall.