Economist and Lecturer at the University of Ghana, Dr Ebo Turkson says the bi-partisan committee set to probe the cedi depreciation is needless.
According to him, we already know the causes of the cedi depreciation and a committee to probe it will be a waste of time.
Finance Minister Ken Ofori Atta has on Thursday, March 28 disclosed that government will form a bi-partisan committee to probe the continuous depreciation of the cedi.
Addressing Parliament, Ken Ofori Atta said after the continuous depreciation of the currency from December last year to March this year, President Akufo-Addo has directed him to find the structural cause of the cedi depreciation.
“The president has directed that I investigate the structural causes for the depreciation of the cedi and to propose measures to address the situation, the government and I will put a bi-partisan committee together to proceed immediately.â€
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But reacting to the statement from the Finance Minister in an interview with Citi FM, Dr Ebo Turkson said:
"I don't think the setting up of a committee to look into why our currency depreciated so far will necessarily solve the underline problems we faced in this economy, we all know the what the problems are, we know our economy structurally depend on import and we hardly produce anything to consume therefore we are overly dependent on import, everytime then we are having an increasing demand for forex so our currency depreciates, now when you need the solution, the solutions are there even if you want to find out the causes of the depreciation over the last two, three months I'm sure the Central Bank is aware of why that happened, so if you ask me, I don't think a committee to look into why Cedi depreciated so far is what we need now."
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