First Lady, Rebecca Akufo-Addo, has reportedly shelled out almost US$50,000 for two vintage hand bags in her recent visit to the US.
She is said to have bought a Channel vintage limited edition hand bag for US$29,500 and had intended to pay cash for the bag. However, she was told that in order to get the transaction through, she had to sign a form detailing that the transaction is above US$10,000 in keeping with financial laws.
Whatsup News has not been able to confirm the information which has since gone viral, nor has there been any response from the Presidency to deny the report.
According to the reports, Mrs. Akufo-Addo then agreed to pay US$9,000 in cash and then put the remainder on her credit card.
In a second buy, the First Lady is said to have requested for another bag worth US$19,700.
However, since she is allowed one vintage purchase per month, she arranged for someone else to pick up the bag for her later.
Altogether, Mrs. Akufo-Addo would blow a whopping US$49,200 on just two vintage bags for herself, the report claims.
The cedi equivalent of US$49,200 is a whopping Ghc496,920.00.
Ghana is currently going through economic crisis with the country constrained to go for an IMF bailout after Mrs. Akufo-Addo’s husband’s government borrowed the country into a debt conundrum.
Experts warn that the country may even default on its debt if urgent measures are not taken to tame wild galloping inflation and a near freefall of the cedi.