Business News of Tuesday, 25 August 2020Source: www.ghanaweb.comFundamentals of Ghana’s economy now strong and resilient – Bawumiaplay videoVice President, Dr. Mahamudu BawumiaVice President, Dr Bawumia has declared that the fundamentals of Ghana’s economy are now strong and resilient as compared to what was inherited. This comes on the back a famous quote made by then vice-presidential candidate, Dr Bawumia at a public lecture in the build up to the 2016 elections. Responding to a question whether the fundamental of the economy were now strong, Dr Bawumia on Accra based radio station Peace FM said; “The fundamentals are now strong and the depreciation is around 2%. Since 1992 the cedi has not been this strong despite the devastating effect of COVID-19 globally.”According to him, Ghana’s major currency, the cedi is within a range of a strong fundamentals as it trades GH¢5.7 against the US Dollar. The cedi since January up until July of this year has witnessed a 2.53 percent depreciation against the US dollar.

Source: GhanaWeb August 25, 2020 11:15 UTC