"Depreciation of cedi now a major national security threat

The Member of Parliament for North Tongu, Samuel Okudzeto Ablakwa has described the fast depreciation of the local currency, the cedi as a major national security threat.

The Ghana Cedi continued its free fall, losing value twice within a day to sell at ¢14.50 to one US dollar on Thursday (20 October).

This translated to 5.45% depreciation in a day and 17.5% in four days of the week.

In a Facebook post on Thursday (20 October), Okudzeto called on the President, suspend his regional booing tours, sack his finance minister, dissolve his failed Economic Management Team and convene a non-partisan emergency economic rescue forum to harvest fresh ideas.

“The total crash of the Cedi must be seen as a major national security threat,” he added.