Dr. Gideon Boako, the Vice President's spokesperson, said Dr. Mahamudu Bawumia's claim that the government has stabilized the cedi versus major currencies was correct at the time he stated it.
He said that the cedi was better managed under the first term of the New Patriotic Party (NPP) government, especially in the face of the coronavirus epidemic, something he claimed was not done during the Mahama-NDC administration.
The Vice President's remark on the stabilization of the cedi "passed the test of truth," according to Dr. Boako, since "the context in which the Vice President stated at the time was not inaccurate."
"So, if he [Bawumia] says we stopped depreciation at the time, the evidence and statistics at the time backed him up... As a result, that was a true remark to make. But whether you'll be able to hang on to it is a another story.
"Essentially, he was discussing the pace of depreciation. "Certainly, if any economist is making a statement, the economist is correct in saying that the rate at which the currency depreciates has slowed," he added.