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You’re gambling with your integrity – Dominic Anarigide to Andrew Atariwini over comments cedi would rebound in 3 months

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Economist, Dominic Anarigide has warned the ruling NPP to recognize that words cannot manage Ghana’s economy, explaining that it would take pragmatic measures from the government through the Finance Minister to ensure that Ghana’s currency rebounds and also ensuring that Ghana’s economy flourishes.

Mr. Anarigide’s comment was in response to Andrew Atariwini, an NPP communicator’s pledge that to Ghanaians the cedi would regain its glory in 3 months.

Speaking on A1 Radio’s Day Break Upper East Show, Mr. Atariwini said, “yes, the cedi might be weak. Yes, the cedi might be non-performing but I am telling you that I stand with the President in his efforts to let the economy rebound. It is on course. Ghanaians should just not be afraid.”

“Nobody should be worried. Everything is on course. You see this performance, mark my words; take today’s date, August 9th, 2022, I am saying give us 3 months from now and you will see that the narrative about the cedi will be a different story.”

Mr. Atariwini’s comments were made on the back of data that suggests that Ghana’s currency is the worst performing currency in Africa.

The precarious situation of the cedi is not getting any better soon, as the local currency has recorded a -28.82% depreciation to the dollar as of August 8th, 2022, Bloomberg has said.

This still ranked the local currency as the worst among African currencies with the “Worst Spot Returns”, and could be heading for a record in the last 25 years.

Despite the country benefiting immensely from the high price of crude oil on the international market and to some extent the favourable price of gold, the cedi has not fared well so far this year.

Responding to Mr. Atariwini’s comment, Mr. Anarigide said, “it doesn’t take swearing to stabilize the cedi. Economic management is not about voodoo and emotions. If he can’t point to some pragmatic and cogent measures in the economy to stabilize the cedi and if same aren’t taken, he will be gambling with his integrity with these kinds of statements. Words don’t manage the economy.”

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