General News of Tuesday, 4 February 2020Source: classfmonline.comOnly a clueless government needs global misfortune to save its currency – AdongoMP for Bolgatanga Central, Isaac AdongoThe Member of Parliament for Bolga Central, Isaac Adongo has said that the Bank of Ghana (BoG) is only profiting from the invasion of the coronavirus disease in China to strengthen the cedi against the major trading currencies. He said this smack of a government that is clueless in managing its currency with prudent policies but only takes advantage of misfortunes in other countries to do so. A BoG latest Summary of Economic and Financial Data report for the month of January has indicated that the cedi has gained marginal improvement against the major trading currencies. But in a tweet, Mr Adongo said: “I hear BOG is celebrating a cedi profiting from a drop in demand for dollars for imports from China as a result of the outbreak of the Coronavirus in China. “Only a clueless Government needs global misfortune to save its currency.

Source: GhanaWeb February 04, 2020 16:52 UTC