The National Communications Director of the New Patriotic Party (NPP), Richard Ahiagbah, says the recent appreciation of the cedi is not good news for the government’s much-talked-about 24-hour economy policy.
He argued that if the 24-hour economy is implemented as proposed, it would turn Ghana into an export-driven economy, where a weaker cedi would be more beneficial than a strong one.
Speaking on Accra-based Metro TV’s Good Morning Ghana show on Thursday, May 22, Mr. Ahiagbah said while a stronger cedi is good for imports, Ghana needs more production to create jobs and boost exports.
“One of the biggest problems between the US and China is largely because China manipulates its currency. That’s the claim by the US—that China keeps its currency weak so that its exports to America are cheaper.
“So what is our strategy? If, as a government, your idea is a 24-hour economy, a weak currency is actually better for you, so you can drive exports,” he said.
Mr. Ahiagbah also claimed that the NDC government appears to be shifting the original focus of the 24-hour economy from production to mere service delivery.
“His Excellency John Dramani Mahama, you promised to implement a 24-hour economy, which must be production-led. If we think about it carefully, these skirmishes about the Passport Office operating three or four shifts are not what you promised.
“If all these young people must get jobs, they must be productive. The enterprise must add value. You must create value and wealth. So you cannot say that DVLA is doing 24-hour economy. That’s a non-starter. What we are looking for is a 24-hour economy that is production-led. Where is that one?” he quizzes.
