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Dollarisation of Ghana’s economy not solution to Cedi depreciation – ASEPA
The Alliance for Social Equity and Public Accountability (ASEPA) has disagreed with suggestions by Dr John Kwabena Kwakye, the Director of Research at the Institute of Economic Affairs (IEA), to adopt the dollar as Ghana’s currency to stabilise the country’s economy.
The Executive Director of ASEPA, Mensah Thompson, argued that Ghana’s major hurdles in stabilising the economy are prolonged recklessness and borrowing and not the adoption of the US Dollar.
Mr. Thompson told the host of Breakfast Daily, David Kwaku Saforo-Sakyi on Citi TV that Ghana’s current economic woes should be blamed on the recklessness of the former Minister of Finance, Ken Ofori-Atta, the governor of the Bank of Ghana and President Nana Addo Dankwa Akufo-Addo.
“We are here not because our currency is not held in dollars, we are here because of the recklessness of Ken Ofori-Atta, the governor of the Central Bank and President Nana Addo Dankwa Akufo-Addo. The root cause of our problem is recklessness, borrowing and people who just don’t understand simple economic management who implemented faze economic restructuring that has thrown the economy into a cyclic spiral now going back into a debt hole and the solution is not dollarisation,” he said.
He added that the decision to restructure Ghana’s domestic debt was a bad idea that placed a strain on the Cedi.
According to him, “I have always asked myself, why did the government, after all the recklessness of Ken Ofori-Atta, still decide that if they were going under a debt restructuring programme, Ken Ofori-Atta was the person they were going to allow to oversee that debt restructuring, I was surprised when he decided to restructure our domestic debt.”
Source: Citinewsroom.com
The Heartfelt Philanthropy Network and fellows of Elevate Africa Fellowship have visited the Street Academy in Accra to support its efforts to improve the welfare and development of children.
The visit formed part of efforts by the organisations to give back to the community and promote opportunities for children through education, healthcare and other social support programmes.
Ms Yvonne Abba-Opoku, Founder and Director of the Heartfelt Philanthropy Network, said the organisation had supported the Street Academy since 2019 because of its commitment to serving vulnerable children. Read More.
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Alberta Afia Asomaniwa Akoto, popularly known as “Landlady,” has declared her intention to contest as the Parliamentary Candidate for the New Patriotic Party (NPP) in the Okaikwei North Constituency.
In a statement shared on Friday, Ms. Akoto said Okaikwei North has been her home for more than 40 years, where she has lived among the people, shared in their joys and challenges, and built lasting connections with the community.
“I am in the race because I believe our community deserves dedicated service, a listening ear and a strong voice. I am ready to work with you, listen to your concerns and help build a brighter future for Okaikwei North,” she said.
“Dear Okaikwei North, your girl is here one of your own, ready to serve,” she added.
Ms. Akoto said service is not just a responsibility but a commitment to the people and the community they call home.
Having dedicated herself to serving and supporting the people of the constituency, she said she wishes to continue the journey of service with renewed commitment, greater dedication and a stronger vision.
Her vision, she noted, is to build on the progress made, listen to the concerns of the people, empower the youth, support women, create opportunities and champion development that benefits every community in the constituency.
“I believe that together, we can build a stronger, more prosperous and inclusive Okaikwei North,” she added.
By Edem Mensah-Tsotorme
